Mr Sealy contends that an objective in the La Jolla proposal is to achieve the least dilution possible.
That no doubt was uppermost in the minds of the Intec ( asx: INL) board when they accepted a similar facility from La Jolla some years ago. The La Jolla modus operandi worked a treat at INL with shares issued at a discount to the prevailing share price..which were then promptly dumped at small profit. The ensuing spiral has very nearly destroyed INL the company . La Jolla tried it on with AED Oil also ( asx:AED) but that was interrupted by the Puffin disaster . AED is now in administration.
La Jolla is as someone said earlier a vulture fund ..and hopefully Mr Sealy and his board will soon start looking to shareholders for convertible loan funds.
At least they wont attempt the sort of cynical manipulation that la Jolla are known for.
Mr Sealy contends that an objective in the La Jolla proposal is...
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