The placement was most likely made to the American venture capitalist fund that put up the 3 million dollars a while back (put the money up back when they probably thought that APG was on the verge of signing a major deal). Who otherwise in their right mind would put up half a million dollars today ? Even though Austpac said it would resort to this as a last option and would draw on the money when the SP was much higher, I think this placement puts beyond doubt that this so called deal is finished.
How pathetic was the attempt to bolster the price up a few days ago leading up to this placement, it lasted basically a day before it started to capitulate ! Talk about shonky ! The management also bulls....ted in September that the deal would be finalised in that quarter just so they could avert being lambasted at the coming agm, knowing all too well that the so-called deal was a dead issue the whole time.
I don't understand after all the empty promises how anyone (speaking of the long term holders) could have anymore faith in this incompetant management team, why would anyone bother wasting further time and money on this dog, wake up people and smell the roses, this thing is going for another dip !
APG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
