CR are usually pretty quick - especially when the stock is in high demand.
Recall the last CR in May for $12M - cornerstone investors, institutions and Sophisticated investor at 35 cents?!?
3 working days later and the news was released to the market.
Contrast to this CR, already 3 working days - and it looks like it needs another 3 working days.
Who is going to put out more money - especially the "Cornerstone investor, institutions and SI" who bought at 35 cents (have lost 50% of his/her capital already!!!)?!?
If you were one of those institutions who stumped up 35 cents each for those shares 6 months ago, would you NOT want a "Big discount" now to participate in this CR?!?
Have a look at STO today and look at the discount it is offering to its existing shareholders to take up its CR!!!
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