ECS knows how far undervalued they are, they are well aware of...

ECS knows how far undervalued they are, they are well aware of their upside. There was every opportunity for these sophisticated investors to enter via the open market, it they couldn’t, without substantially inflating the price to where it should be. 226 days to be precise, 226 days worth of trading volume will be handed to wealthy investors when the raise lands. The people that us genuine investors rely on to increase liquidity and bring the SP to a fair value have just been handed these cheap shares on a silver platter. And guess what, they’re probably influential as well, given the new publicity from the raise by Bells. I highly doubt any holders will have an average price lower than what these freebies are being handed out at.

Now tell me this. How is it that there is collectively going to be $4mil worth of ECS investment sought in the space of 36 hours? This is an exceptionally quick turn around from Bells. It would be very interesting to see what emails or contact had been made between ECS, Bells and related parties before the AGM resolutions were identified (26/10/23). It specifically states that “the Company has not approached any particular existing Shareholder or security holder or an identifiable class of existing security holder to participate in the issue of the Equity Securities”. I suspect there will be a magnifying glass hovering over existing holders who partake in the raise… It would also explain why there has been basically no true volume traded above 23c. That channel between 22-23c was slowly being chewed up, whilst we all sat here wondering why despite everything positive coming out, we couldn’t break out of the channel.

As I said, going to be an interesting next couple of months as the ceiling is removed and our cashed up friends finally have a meaningful holding!

I believe that we’ll relatively quickly realise a MC of 50mil (39c). At which point I’m out. Hopefully the new members of the ECS club haven’t also decided to skim their substantial gains and bully some other small cap into handing out rations.