Luckily I am out of PBD...company shares are diluted again..adding around 742M shares at 1c each...And if I read the ann this morning correctly, that's a further 20% dilution in shares...so I am surprised that the share price is not at 0.8c to reflect this on opening...
Hopefully this latest acquistion is backed by a proper feasibility with sensitivity analysis..I mean...23 townhouses with an end value of $30M works out to be approx 1.3M average each...It doesn't take much to erode the potential earnings on these 23 townhouses...Their best strategy is to get in and get out quickly with pre-sales...or it will be another disaster.
Good luck all...
PBD Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
