Hey davybabyk,
Another great post. I've watched on since the consolidation announcement. There's been some ripper posts from some of our regulars, and a few coming out of the woodwork.
My only criticism of the consolidation is that its a year or two, too late. Like many here I've been expectant of data news repeating history and seeing a share price rerate, similar to that of November 2023. That saw the SP with a temporary high of 15c. Unless news is about to drop, the chances of that happening again is very slim. The other disappointment with the timing is that with a 34:1 conversion IMUOE's will now have a strike of $4.01 with the fully paid being 71.4c based on todays 2.1c closing price. I could easily see the 11.8c current strike to be covered once data drops. However, the jump from 71c to $4.01 would pose a higher mountain to conquer, for mine.
Whilst I've known this consolidation was coming (you didn't need to be Nostradamus) and I see it as necessary, the current price is too diminished for mine. I'd be waiting until a SP rerate, which can only happen on the back of great news. Don't think for one second, there not being an ulterior motive in them doing so. PH has something cooking, and I cant see it not being something even more beneficial than the consolidation, such as a Nasdaq float or a partnership whereby a new large holder will receive a larger piece of the pie for their contribution. A deal brewing would be the most likely for mine, as it needs to be confidential, until hashed out. If his motive was for a Nasdaq listing, he would have addressed that at the same time, in also requiring an EGM. Until they set a date, it wont happen for 21 days.
On things for sure, things are certainly going to hot up with IMU over the next month. Hopefully there's some great news amongst it all- long term holders more than deserve it !!
-GO IMU!
Not Financial Advice - Opinions Only - DYOR!
Expand
(20min delay)