Actually Quick I think you are off the mark with this one. Miles Kennedy has taken a number of companies from nothing to millions (Billions for SFR) so the ability to raise capital is partly about people backing Miles. What Miles says would have a lot of weight. Miles couldn't do a share placement while he was talking to Chinese investors so he got caught out by them not coming in.
I think he did the right thing giving the shareholders a chance to buy in rather than going straight out to market once the two Chinese investors pulled out. Now Miles is in the market seeking investors. I wouldn't right him off yet they have 3 months to place the shortfall.
LOM Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
