They would have hit up a bunch of brokers with a higher starting share price and I’m guessing they could only get one interested at a 2c valuation. Brokers don’t just accept a current company share price as fair value. If they’re going to tip in a couple mill they’ll use their own fair value.
As for the low dollars, I don’t know. Possible that they wanted more but had to take what they can get. Investment money is tight at the moment. They probably could have raised $10m. 6 months ago no problems.
It makes no sense to me to ask for such a small amount at such a large discount.
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Change
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Mkt cap ! $13.00M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 3641664 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.0¢ | 1752135 | 3 |
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