Level 2, when there’s a raise they usually watch social media threads for breaches in confidentiality, it’s not a huge issue but some brokers are more active on it than others. In the past I’ve had posts moderated that contain the deal info so now I don’t post the actual details. Although I see that Holmesearth has put them up so as you can see… that is pretty close to raising at market which is a win. The amount is 1 year of costs and the dilution has improved from the 50m shares around the 5c mark up to 34m shares or so that 7c divides into $2.5m. I thought it was a good raise.
Initearly, I normally put about $100k into these raises so that’s in line with where I would normally be. I have also bought about the same amount over the last month or 2 so I feel that I’ve provided enough support. When I first made contact about putting in some money a couple of months ago there had already been a couple of commitments already given. HMD for all its faults has a bunch of dim witted financial assistance type investors who have some belief that things will align at some point. I’m pretty sure that EndTimes has made a comment about Ratdog before? That guy is even more messed up than me and has tipped in plenty already and went back for more… WA has a fair bit of the register of HMD so maybe when Perth secedes formally from Canberra then our Tel-Aviv office can re-domicile in the sovereign republic of West Australia. My comment about fish was literal. Yesterday I took the boat out to catch some Mahi Mahi with my eldest son. If HMD goes big, get a Beneteau for a fishing boat mate, they are fantastic.
TCG… mate you are a brutal delivery of shareholder wrath… I totally understand where your frustration comes from as well as Lovegod’s too. It is extremely challenging to navigate the transition of executive roles when one of them is a founder and deeply involved in the tech side of the business. I don’t think this was the raise to be non-dilutive. EMV has had a great track record of getting funding without dilution and maybe Ron will pull something together but this raise was needed just to keep the lights on. I expressed my frustration directly to Captain Ron.
For all the comments about the rates of pay, there’s no way I would run an ASX listed company for $240k. Not a chance. The potential for legal recourse is too high for that to be enough. I couldn’t live on that amount so I don’t begrudge someone else doing the job for that pay. Maybe it’s high for this sort of company maybe it’s not? I think my banker from ANZ is on this sort of money and I wouldn’t trust him to run a Medtech. Ron would get paid considerably more as an account manager (senior VP) for Morgan Stanley than as executive chair of HMD. Those pay scales need to be seen in perspective. Having said that, I do agree with Lovegod that if you can’t execute the job then you should take a commensurate decrease in pay. I understand that for a lot of people $200k is a pretty big salary but when you earn more than that for less responsibility it doesn’t seem like enough to run a company on.
great to see the hostility in posts on HC. Let’s hope life with HMD gets back to talk around cricket and the Brunswick Heads pub.
HMD Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
