Hey BTF,I might agree with you I had I not seen it all...

Hey BTF,

I might agree with you I had I not seen it all before.

They definitely can sell less than the issue price, they've done that before as well. Don't forget they have a bunch of free oppies to sell as well. If they sell the oppies for 1c, they only have to sell the heads above 1.8c to make a profit.

Naturally, they don't do it all at once. As you rightly point out the volume doesn't support it. But it just means they keep topping up the sell side with 200,000 here, 500,000 there etc etc. Even if it takes a couple of months.

FWIW I don't begrudge the timing of this placement. IK was probably waiting until after the ALDP decision because if the outcome was positive the placement would have been at a higher price (and therefore less dilution). Unfortunately it wasn't successful and so it's at a lower price. But yes, only $500k which hopefully means something is around the corner shortly to announce because I wouldn't want to see another Fortrend situation where small amounts are issued at regular short intervals at increasingly lower prices.