Broker upgrade, page-30

I don't understand the author's point about BLT. The argument is that they would get better support from US investors. But they went with an IPO on the NASDAQ; wanted $65 m, actually got $16 m. So no, they didn't get better support from US investors, and management has crashed the share price as a result. I think US investors saw through BLT hype and recognised some of the flaws.

Compare to VLA, went to US for an equity placement, got all the cash they wanted......