It has been clear for a while that the sp was being walked down towards the issue price; . Whilst I am disappointed at the price of 23 cents when the valuations have been so much higher it is clear that Hartley's needed to do the placing at a price that would work in this environment. To get funding at all is very difficult.
With &- million at the start of 2009 and the ambition to become cash flow positive the same year I truely believe that the worst is now behind us.
It has been a rough ride to date but news is due.
OEX Price at posting:
30.0¢ Sentiment: ST Buy Disclosure: Held
