@wolfk just a couple of quick points: 1. ASIC is the one who sets the s708 requirements for a placement, not any company. 2. The market is shit in general. Getting cash is great right now. Getting it at this price is amazing. (as others have stated, most can't raise or have to offer 20% discount + options). 3. Yesterday's price of 2.5c is based on 2.3m shares traded or $60k of volume. So 2.5c is the meeting of $60k of demand and $60k of supply. Today the company has $4m of supply and needs to build $4m of demand to hit it. In order to do this they have lowered the price. Imagine if the company had to sell $4m of stock in market (in a day) to raise the capital - would it be 2.5c? Nope, and would be well less than 2.2c
2 years ago it was a sellers market, today it is a buyers. This honestly is a great deal and you should be clapping the management on the back and thanking them for getting it away.
Just my opinon but I track deals, and came over to see what the sentiment was here - given the deal is so tight.
10% discount with a named broker (Bells) is something 99% of companies can only dream of at the moment.
You hold stock in the 1%. Good work to you, and every holder here.
gl, hf.
ECS Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
