I was happy a week or so ago when the SP was above 5c and I thought we were going to get a trading halt on the 17th of November to stop the bleed. If that was the case, I think the placement would have been safe.
However that was not to be the case. Management seem to not have their eye on the SP and were obviously happy to change the timetable and let the SP fall further.
Since then things have changed. The SP has fallen well below 5c, we have a risk of the placement falling over or issue price being significantly reduce (for more dilution!) and to top it all off, the company is calling around looking for support in what seems to be an act of desperation.
Oh dear...things have changed quite a bit in the last week and thats a very big understatement to say the least.
CEO Price at posting:
4.5¢ Sentiment: None Disclosure: Held
