Sorry Mode , was out and about doing my Election Day civic duty...

Sorry Mode , was out and about doing my Election Day civic duty ....You know Democracy Sausages and all that.......

What do I make of that you say ? Apart from the fact that typically long protracted and orderly sell offs from the recent highs of a stock are usually ' Staged ' or controlled by larger holders .

And this is purely because they need to create that ' Catch & Release ' illusion if you will of having willing retail holders to play along and get behind those large and sometimes ' Fake ' BUY orders.

Alternatively , there are many reasons to play ' catch ' with the sellers ...., be it averaging down ...., control of the registry , or even strategic buying ahead of pending activities or outcomes. However , I think we can rule out control as we haven't really seen any shifts in existing substantial holders at the present moment and we know Kitara is potentially still there

But when you start putting up the numbers as you've done , it starts to get just that little bit additionally coincidental if you like ..., and for lack of a better word.

So for instance , if we roll back the clock to April 2023 when they raised $600 grand off the back of 200 million shares issued at the time at point 3 of a cent , you can get a reference point to where the SP all started from.

O.K , so we're only off a couple of pips to arrive back at that price , but it's also interesting that in that same raising , they also entered into that ATM ( At the Market ) finance facility based on the issuance of 96 million shares to 8 Equity who as at the Annual Report were sitting in number ONE spot in Raiden's Top 20. It's worth also noting that at the time of the Half Year Accounts , this facility had still not been reported as drawn upon. So the shares , whilst issued , are only collateral shares held against the providing of this facility for 3 years from the time of shareholder approval ( which would be 1st November 2026 )....with the shares being issued on 14th November 2026.

And here is some of the wording to just mull over for a moment in so far as how it may in fact effect our Share Price had it been enacted :-

" If any Advanced Subscription Shares have not been sold by the end of the Term, the parties can mutually agree an issue price for 8 Equity to pay to retain the shares, or the Company can specify a floor price at which 8 Equity can sell the shares on market over a specified period to raise funds, or the shares will be bought back by the Company and cancelled for nil consideration. "

So you can see that Option 3 , ' Buying them back ' is irrelevant if we haven't drawn down on the facility , but either of the first 2 options become sketchy should 8 Equity have some power to influence the BOD in wanting to take up these 96 million shares at an ' agreed ' or a ' floor price ' ......ie bottom price , and in anticipation of the next upswing in the SP.

We don't need the money though , but at the same time , I don't reckon it removes the risk that something might be done here.

Getting back to your numbers and suggestion of the sell off and market in the SP being ' Staged ' , it gets even more interesting when you start to look at some legitimate reasons.

For instance , we know that Kitara participated in the August 2023 raise at 2.2 cents for 2,250,000 million shares because he filed a change in substantial notice ( as seen below ) issued in November 2023 which also illustrated the reason for the change was a direct result of the dilution effect from the issuance and ratification of the 96 million shares issued to 8 Equity.

It's also interesting that if you take the approximate ' average ' between the large April 2023 raise of 200 million shares at point 3 of a cent and 300 million shares issued at the 3.2 cent price , you then get an average of 2.04 cents per share.

This compares to Kitara's average between their 2.2 cents on just their 2,250,,000 shares and the point 3 cent previous raise of 1.25 cents per share.

Important to note also that at the time of the April raise which was also undertaken by Kaai Capital and CPS where issued 40 million LISTED broker options exercisable at 1.5 cents and expiring at the same time as the RDNOA listed options on 30th November 2024. Did they exercise them in the end ? Wouldn't have thought so given the SP fell from circa 4 cents near the beginning of November 2024 to near 1 cent at the beginning of December.....

Kaai Capital along with Evolution were the underwriting Brokers to the 3.2 cent raise and received another 20 million UNLISTED broker options with an exercise price of 5 cents per share and an expiry date of 18th January 2026.

So there would be valid reasons that any of these ' actors ' and Top 20 holders would want to wade into the market at these just outside of market prices and those equivalent to the FIRST raise which got the whole ball rolling at point 3 of a cent.

We then have these also coincidental numbers that align with your noted figues being the Tranche 4 and last tranche of performance shares quoted in the Annual Report as follows :-

(d) 18,250,000 Tranche 4 Performance Rights subject to a 20-day VWAP of $0.100 or a market capitalisation of A$150million over a period of 20 trading days on or before the expiry date

And where your broken up numbers add through and align nicely here is in the fact that as per the Annual Report , we have 34 South Advisory Limited , an entity with its sole shareholder being Dusko Ljuobjevic with 6,250,000 and 34.25% of the total followed by another Top 20 holder and Chairman Michael Davy with his 23.29% and 4,250,000 holding of the total performance shares.

So again , if you're a Director who would have been entitled to performance shares based on those above terms and now unlikely to get them, then what better way than to wade into the market for the same quantity at much lower pricing.

I'm not sure if I've answered your question here , but at the minimum have tried to provide some food for thought into what might be constituting this posturing on the SP BUY side depth.

In either case , these numbers are certainly if anything suspiciously coincidental. And I guess that's what numbers can do to you when you look at them long enough......

Have a great Election Night.