Was he involved in the flow through raise 'at a premium', with $15 million in the bank?
If so, he is no different.
Ive read on this thread that your a mug for turning down money at a premium, but the flow through are very disingenuous to call at a premium.
If anybody wanted to see their effect, go read the CRR thread after they raised at a premium. Every flow through raise since the very first i remember at WR1 when i held has been a disaster.
They are a racket!! They are a tax break that actually lead to less worry about selling them at a loss.
To do any raise with money in the bank is bad business, but to do one with $15m, and without outlining a plan for the money, is criminal.
How in gods name did these guys end up with $15m anyway?
JUNE RESEARCH REPORT, page-11
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