and management spent 600k on consultants, legal fees etc. on that aborted acquisition? blind freddy could have seen that it was a doomed move destined for failure considering the state of the capital markets at that time; not to mention the amount of possible dilution involved if the decision was made to raise capital through the issuance of shares. cashflow hadnt even been bolstered as OAGS' Ford E-Gas venture hadnt and still hasnt taken off so funding the acquisition through a bank loan was out of the question.
how much was also wasted in restructuring the ADRs? rationale was to increase liquidity.... mate.... fix and strengthen the business and all else will follow... superficial tinkering of financial instruments just doesnt cut it when it really matters.
way to go OEC management in pointlessly doing things for the sake of it to justify your existence and salaries :(
OEC Price at posting:
35.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)