down she goes

It is difficult to understand what IFE management are doing. So far all I can see is that they are forcing the price lower through their poor decision making.

The share price is now down to 75 cents and will go lower.

It seems just plain stupid to me to announce a share issue at 75 cents and without the basic documents such as a prospectus, with details, especially who is the underwriter and also if trafford are not taking up their portion who is because this is almost 50% of the money and without this portion being taken up the the issue will be a total failure.

This lack of information has caused the share price fall and now that it is already at the proposed issue price. So now their must be a high probability that the issue will be re-priced to maybe 60 cents.

Even if it is re-priced to 60 cents the issue will fail unless their is a under writer. So I think the issue price will be at whatever price the underwriter thinks is good for him as he knows he will be left holding a lot of stock

Eventually the issue will go ahead at some price.

Management have known for over 12 months that they would have to raise capital. Surely that could have picked a point earlier this year at a much better price

The one big plus is that I can personally buy stock at a very cheap price if and when I feel the risk reward turns positive