Sharejon, I would be ok with SEA postponing the IPO for another 6 months and using their current access to existing facilities and cash flow. Buy then we could have better production numbers and a firmly proven track record demonstrating managements intentions and ability to deliver on growth projections. At that point where further growth would require additional capital expenses they could bring the issue of an IPO back to the table and I believe get a warm reception from investors across the pond. I have thought from the beginning of the IPO talk that management was jumping too far ahead of itself by asking existing shareholders to eat so much dilution and then have to wait another year for any rewards. Going slowly and putting up numbers on a more regular basis would help reassure the investor that management is on top of business and cares about the shareholder base.
SEA Price at posting:
$1.01 Sentiment: LT Buy Disclosure: Held
