"Why should these mobs get out with a profit for 'raping and pillaging' the company."
The answer is because they lent us US$22M (AUD$29M circa 2006) to cover our development costs for Galoc. Based on the NDO sp at the time, the conversion price for the CN's was AU 26c.
I'm sure if management were able to see the GFC coming, the fall of the sp to 6c, and the requirement to readjust the conversion price down (no up allowed under the terms), they would've negotiated a completely different set of terms...luckily they put a cap on the shares that could be issued...cest la vie!
The term is, "the cost of doing business"...are you looking for a profit from your investments?
Comparatively, the last raising at 12.5c resulted in the issuance of 159M shares to Insto's and SI's...ML's 114.3M doesn't look too bad against...what if all the subscribers at 12.5c decide to sell at 13.5c, would they be raping and pillaging the co., or exercising their rights?
Obviously feelings run high with a hammered sp, but it wouldn't hurt to remain objective.
NDO Price at posting:
9.1¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)