sell now, subscribe to rights issue

For those out there who are nervous about the price, just bear in mind before doing anything rash:

People who had held stock at the record date who are looking to make an early exit out of NOD are trying to extract as much as they can from the stock before getting out completely. This involves them selling all/most of their holding to fund a subscription to the rights issue.

This is why the spread between the market price and 10c has narrowed recently. As long as the market price is hovering above 10c, those who had held during the record date can still use their proceeds today to fund their subscritpion. They may then decide/not decide to sell after the shares float on Dec 20. In any event, there's my hypothesis to explain the market action.

As for the business, I am confident liquidity and solvency risk has been removed and that after Dec 20 and the aftermath, the possibility of institutional interest and the bidding of the security to a fair-er price should be probable.

As for when institutional interest will once again resurface- Best guess is first positive reports in either the interim, or the next full year reports - IF positive news starts to flow.