Interestingly, the 50 million shares Platinum purchased in December are stated to have cost $3.2 million, meaning they cost 6.4 cents each. This is 0.4 cents more than the capital raised at 6 cents per share at this date. Maybe they bought them from one of the institutions that participated in the raise in a flip, but this seems odd. They have been selling consistently for months based on the sales data in their major shareholder notice, and have thus decreased their total % holding even after the 50 mil purchase in December. Platinum's total funds under management have been going down for years, so maybe they need to keep selling. At least if they sell at less than 6.4 cents, they will be making a loss on those 50 mil shares.
Add to My Watchlist
What is My Watchlist?
