Every single start up entity faces this sort of register issue, advisors always say the same thing, strengthen the register to protect the shareholders.
If this was 100% retail I hate to think where it would be. The front end product has dropped in price, I for sure know and most longer term investors know that the product has legs.
But I would guess that COB would have been inundated by many 'loyal' investors saying, I am outta here! my investment has dropped and I can't afford it...... Right there you have it, "I can't afford to be in this because my level of comfort/time has little cover" Any CEO worth his salt would try to make sure the company has as well a balanced register as possible. The fact that Joe is honest enough to actually say it, is surely a good thing, literally every company with similar structure wants it, few tell the truth on it. I will not fault Joe on this, in fact the opposite.
Cheers Phil.
COB Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
