Is it just me or is anyone else pretty pissed about the new financing deal. Everything looks pretty good except (and it's a big one), the issuing of 50 million options to Macquarie at 13.5c instead of their 27.7m at $0.27?
If HGO were to ever trade again at $0.27 again, that's the equivalent of giving away an extra $6.75million in equity away and thus diluting existing shareholders further.
From the announcement, I can't see any justification or benefit of that scale to existing shareholders.
I note the market hasn't exactly jumped on the news with the stock still trading at 7.9c. I wish this company would look after shareholders before their bankers and brokers. If they did, the share price wouldn't be this low...
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Mkt cap ! $106.8M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
8 | 1006410 | 5.0¢ |
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Price($) | Vol. | No. |
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5.1¢ | 66577 | 3 |
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No. | Vol. | Price($) |
---|---|---|
8 | 1006410 | 0.050 |
3 | 130825 | 0.049 |
2 | 80000 | 0.048 |
3 | 74150 | 0.047 |
2 | 31738 | 0.046 |
Price($) | Vol. | No. |
---|---|---|
0.051 | 66577 | 3 |
0.052 | 31581 | 1 |
0.053 | 924026 | 6 |
0.054 | 962730 | 1 |
0.055 | 1649059 | 2 |
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