Unfortunately I think it is just as it says, so nothing strategic. I agree it looks like Jagger is still in control, all you have to do is view the last Call they had where Jagger did all the talking and the new CEO was totally subservient, plus he remains as an advisor. I am sure the main advice he will give is, we can give away more IP rights and do even less work, which is essentially what he has been doing again and again and is the reason the share price is constantly in the toilet and can never get out of it.
That the raise is so small is also a concern as it just means they have to raise constantly, in this environment the hint of a raise just instantly drops the share price, they should have done a raise that provided enough capital till the approvals were completed IMO.
I expect people will be able to pick up shares sub 8.4c soon
BGT Price at posting:
9.0¢ Sentiment: None Disclosure: Held
