Sorry to hear your pain Holla,
"Sucked in" is the last thing I would say to anybody....especially you as I love your optimism and sense of humour.
Although I've said it to myself numerous times!
I'm on the record as pointing out that the statements made by the company and PO have frequently not been matched by the reality that unfolded.They've been talking about stuff which they should know, in a way that sounds like they do know....only for it to not turn out to be how the said.
It's hard to draw any other conclusion than the one that the company has lied.. which is a real pity.
I sold out after the last quarterly when it became blatantly obvious that NOR was burning through the cash at a rate of knots and that POs statement that the company was fully funded for the next 18months was a load of crap.
If you can't trust management to be straight with you, on what basis can you buy shares in the company?
So for me the credibility of NOR is shot.
But having said that,it's worth remembering that all the dodgy dealings surrounding NOR... the pump and dumps etc are possible because people buy the story... like you and I both did.
The company will get their funds, from either :
1) A placement to Sophis.
2) A placement to strategic Investor
3) Punters
Hopefully it wont be JUST the punters!
Any CR will not have been negotiated from a position of strength as everybody knows they are out of money.... It's not really "discretionary" although you can bet they'll spin it like it is.
If the CR goes to Sophis they will have made damn sure there is some good news in the pipeline before they commit.... Corona Cloud and Android releases to happen shortly afterwards.
It's not supposed to be that way, but NOR have informed the market (again) that those things are imminent. Sophis will make sure its true this time before committing...and NOR will say that the market was informed.. just like the Sophis.
There will be line wipes and the SP will go vertical once the sophis have got the deal sealed.
Peak euphoria will be the time to sell.
I the CR goes to a Telco as a strategic holder will be a very good sign.
The SP won't get pumped quite as much but long term it would show confidence in the company and it's products. It wold also provide a potential ongoing source of funds. This would be the best outcome for long term holders in my opinion.
BUT.... If only the loyal shareholders get offered the CR you can bet thats because no one else will touch it.
That would be the kiss of death.
Also if the Sophis get their hands on the placement shares a few weeks before the punters (like last time), that would be a dodgy sign too....
I reccon sell with the Sophis and don't take the placement as the Sophis will pump it and dump it before the punter seven have a chance to get their shares....like last time.
Most ways you look at it, SP will be higher from here...
At least for a while.
I reccon you'll get the chance to sleep at night again.
Hope you do better from OR than I did!
Coco
(20min delay)