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1.7¢ ecs botanics holdings ltd

Here here, was it even tried? Did they even have talks with NAB?...

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amb005

7,125 Posts.

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20/02/24

13:02

Post #: 72498759
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Originally posted by wolfk ↑

4 new PCEs: 1.3mil
75% spend on other 2 required items: 900k
Total: $2.2mil

OR

6 New PCEs: 2mil
75% Spend on other 2 items: 900k
Total: $2.9mil

With the $2mil NAB facility available and $2.5 mil cash on hand, I’m still not seeing how this raise (at a discount) is beneficial to existing holders.

Take away the $800k in runway costs factored in, $4.2mil spend would still have been achievable with current cash and facility. Taking into account that there are still cash receipts incoming. I’m not an accountant or finance expert, but they could have funded their ‘plan’ without this cash grab and dilution.

To me, this simply doesn’t make logical sense. I thought these days were behind us, but seems clear that the board/management continue to look after themselves and their friends. As someone mentions, does retail get a look in or is it just for friends and family. These are the things that management need to be accountable for when trading publicly. They had every opportunity to raise at a premium in a healthy market, but they chose to reward their friends with an easy entry at a discounted price because they missed the boat.

Not everyone will share my frustrations, but I believe you should be entitled to the frustration. We research and invest based on our own thesis, mine was seeing an opportunity and getting in when the price was right. Such a shame that institutional/sophisticated investors can rock up when things are good and pick up scraps at the bottom whilst trying to look like they’re helping, they are not. These interested parties could have invested at market, the real demand for ECS shares would’ve seen the share price finally move out of this 2-2.5c channel we have been stuck in. But instead we give these scum the easiest and cheapest shares available for a year, in a nice healthy quantity.

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Originally posted by Arrow1234 ↑

I would be interested in my they couldn't expand the debt facility. It's not like $2m facility is big by any stretch, so I am certain other lenders would come to the fore with the required facility with an understanding of the current and future contracts in place.

Does this CR also explain why there was a selloff into the momentum of recent positive announcements? Pirates of the ASX, someone make a movie about it!

Expand

Here here, was it even tried? Did they even have talks with NAB? Would have been a good idea before blindsiting shareholders. NAB have given CAN a $65 mill debt facility with not even close to the financials ECS has.

Im not happy about this, basically adding another 181 million to the the shares on issue. That was seemingly not needed, we had cash and debt facility able to do a non dilutive growth.

If it was a struggle to get some upward momentum before, now think we are going to have another 181 million shares to deal with, who are all going to be in profit above 2.2, so even selling 2.5 cents is a huge percentage profit for them.

Last edited by amb005: 20/02/24

ECS Price at posting: 2.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.7¢		Change 0.000(0.00%)		Mkt cap ! $21.90M

Open	High	Low	Value	Volume
1.7¢	1.7¢	1.7¢	$27.18K	1.599M

Buyers (Bids)

No.	Vol.	Price($)
13	2924995	1.6¢

Sellers (Offers)

Price($)	Vol.	No.
1.7¢	44894	1

View Market Depth

No.	Vol.	Price($)
13	2924995	0.016
13	2766878	0.015
10	1750141	0.014
4	678461	0.013
5	909000	0.012

Price($)	Vol.	No.
0.017	44894	1
0.018	2426280	6
0.019	380890	6
0.020	643243	4
0.021	620000	2

Last trade - 15.04pm 25/06/2024 (20 minute delay)

ECS (ASX) Chart

Here here, was it even tried? Did they even have talks with NAB?...

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Here here, was it even tried? Did they even have talks with NAB?...

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