Several of the risky early stage stocks I follow have a common reaction when the business does private placements and/or dilutes the shares.
SELL
I don't know what will happen tomorrow (Thursday Oz time) but I would not be surprised by further selling.
It has already sold off a lot and I don't agree with why it has sold off, but let's see if the typical "sell the news" happens as a reaction to the capital raise.
Don't see this raise as a bad thing, but the CEO needs to do a better job of marketing himself, his business and what they are doing.
The CEO's lack of salesmanship may have more to do with the price action than any fundamental issues with the business for what I have seen (and my limited knowledge!) Cannot see this business as a bad bet for the future, but the biz needs longer time horizon methinks.
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