Yes I am probably wrong there are a few others that believe the project is good. And yes I certainly believe the project is good however the one critical things is CASH and the amount of shares on issue.
Have a think about this.
When the cash starts to get to around $2m the directors will be very concerned (I would be).
No broker will do an underwriting because of the 2.4b shares and the 665m options. So that will leave only one alternative a cornerstone investor.
Now if you were the corner stone investor putting up the cash when no one else will what are you going to be asking for?
Well you will want the lion share of the project because deep down you know that they cant raise the money else where so you basically have them over a barrel.
So the directors in my humble opinion have two options. 1) Sell them a direct interest in the project or 2) issue a massive amount of shares and dilute every share holder down to nothing. or do a capital restructure by winding the shares back and then do the placement but either way you end up with the same result the current shareholders will end up with less shares and a fraction of the company/
PDY Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held