goldstone, page-5

Why don't current holders (those holding on the record date of 14th Feb) sell now and consider buying back up to $15,000 worth of UML at a 17.5% discount?

I guess the risk is that the share purchase plan (SPP) price may be greater than the price you get if you sold now, but for that to happen, and for you to be worse off, the SPP price would have to be greater than ~0.05 if you sold now for ~0.041 (17.5% discount on 0.05 is 0.41). The other risk of not selling now is if the share price drops to or below the SPP after the SPP closing date.

The forces driving the share price now are quite hard to understand - why is anyone buying on market? Only non-holders or those wanting more than $15,000 worth of shares would do this. Do they believe the price will go up under the current SPP situation?

Anyway, I share bigdream's view of the company's situation and have sold almost all my holding and haven't decided whether to participate in the SPP or not.