If the 1.8c correct then I consider it as a management failure to sell ANP to the market.
They were so upbeat about the funding agreement that I interpret this CR as a panic reaction because the negotiations have been unsuccessful.
A great company story, which I believed in, will be presented to the market by their achievements. A first placement to an CI at 3c and 150m shares would have given the comp 4.5m without sh approval, would have shown the market that the current sp is too low and would have signalled to the market that the insider understand the huge potential. A second placement 2 month later could have been followed according to the sp then.
But 1.8c signals exactly the opposite, a rush for money at a huge discount and selling a great technology for peanuts. By doing so the last bit of confidence will evaporate.
So, if 1.8c or lower is correct, good bye ANP for me, otherwise I will hold.
ANP Price at posting:
23.0¢ Sentiment: Sell Disclosure: Held
