PNX is debt free. There are three ways this can play out: First,...

PNX is debt free. There are three ways this can play out:

First, the company fails to raise capital (Doubtful).

Second, the company raises capital. There is no doubt that PNX will require capital to fund future projects. (So this is possibly on the cards)

Third, the company is invited to accept a takeover offer. (This is also possible) PNX is debt free. This means, there are no outstanding shares to be issued (options or convertible notes) Given, its financial position, PNX is a highly attractive takeover target.

What does the future look like?
Well, if capital is raised or we are offered to be taken over its all good news for shareholders. Why? PNX is in the rarest financial position. The downsides are minimum.

I have faith in the management of this company.

I have been trying to find an equivalent company who are transparent in their approach. (I’v reviewed the books of RVR, SYA, HDY (Formally EMU), CZN, CXO, MZN, VAL and AMG. Actually, if you can names some please share?

Should be an interesting couple of weeks.

Stay tuned!