I agree that the price point of 8 c was completely ridiculous. It was plucked out from the air or maybe the result of pinning numbers 1-8 on a wall and throwing a dart. It should have been set at 15c. But the attaching free options at 3 for every 2 was the killer for me.
I too hope that all they raise is the $12M minimum required(150M extra shares discounting the options for now) . Let them manage with the minimum and in due course if they can manage it well and turn over some money then maybe they can come back later to the market when the price is well over 20c to raise some more.
As Kacy pointed out....I am very very surprised that a suitor/private equity/competitor has NOT emerged to take our this company now. A price of 25 cents would get through now where in the past we all would have laughed at such a suggestion. If this company is waiting for administration it may miss out. This company can limp for a while yet and they will have a lot more shares on the register. So the question is this Why hasn't a suitor emerged yet. IT has the assets and a company with deep pockets will easily be able to roll over the bank loan and negotiate with the Bond Holders.
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I agree that the price point of 8 c was completely ridiculous....
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