I rarely ever report posts .. especially not those with a different view. But did one today, which you mentioned @Holla - see, its not all a conspiracy. I probably agree with the sentiment, but think its best that that post not remain...
Mostly because .. undue attention, even to other posters, makes everyone wary of speaking up and chilling debate. Don't want any unnecessary trouble.
On the topic of the raise though, truly, there is no positive way to spin the fact that it wasn't placed .. lets be honest.
Its underwritten, for a fee if the company places $1m they get paid 7% so their actual cost base is more like 1.48c and they get their other fees and charges reimbursed as well .. so they rarely loose (too much).
If the news comes, it could be happy days. If it doesn't though $15m Market Cap might look like something holders look back fondly on.
ZIP just shows that share price and market cap means nothing and can shrink faster than you could imagine. One day it was $100m then it was $50m and looked like a bargain.At a $30m valuation you would have been stupid not to buy in? But 50% down the $15m Market Cap entrants thought ..what suckers, I just got twice as much for the same money. and now, its $2m MC and a bit of cash. Worth ZIP.
Now there are lots of differences but some similarities. Namely sector, hype, expectation and promises of products and revenue. They failed to deliver and now sit as a shell .. one hopes NOR has a happy path.
They have raised cash twice, which is a positive sign .. this will be round three, so have lasted longer - credit where its due, they persevere.
NOR Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
