The lDA facility is a big no no for me as I clarified this with the company and it was wrong in the end. It was portrayed to us shareholders the pricing was pre call not after call. Difference being the company gives lda shares to sell on market for ~ 20/30days whatever and they give the company the sale proceeds minus 10%; what a shit deal where you pay $4m ($200m facility) in establish fee plus lda get 71m free options with no risk. HIO will never ever be able to draw $200m as it relies on volume of shares traded to draw down. So basically everyone knows the shares are being sold by lda so no one wants to buy so backs off till selling finishes; it a stupid deal. Management think its a great deal and that is why they are dumb and heads need to roll.
HIO Price at posting:
10.5¢ Sentiment: None Disclosure: Held
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