re: good close I can’t blame the market in being hesitant. This company has had a dreadful track record over the last few years, especially around the announcements of huge contract and then showing nothing for it.
I started buying when King and Fotios underwrote the share placement back in July last year. King picked up 30mil and Fotios 9mil. There was always going to be a huge shortfall as no one with half a brain were going to take up their rights.
This got me thinking:
1- Why would they underwrite a placement that they knew would not be taken up by most of the shareholders.
2- Why would they outlay $.5 mil in a company that appeared nearly broke.
3- Did they allow the share price to fall on purpose.
4- Did they already know what they were sitting on.
I decided that if they could fork out half a mil then I could have a punt for a few thousand, put em in the bottom draw and see what happens.
I am still sitting on the shares I bought last year and have bought more at different stages over the last 2 months, even picked up a few more last Friday and again today.
I will probably sell a few if it gets in the mid 7’s tomorrow, but will hold most till King decides to sell.
TAA
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