Sadly Regal will not have sold one share today as they are not issued yet and you cannot borrow shares to short in HIO. So I guess LDA have flogged their 17m shares post seeing this appalling raising into Regal. So we will have Regal in the coming days begin their selling 62.5m shares by weeks end over the coming month(s) Bryan is totally inept and really should resign immediately. The red flag was around July when management had to restate the LDA terms which highlighted they did not understand the nature of the LDA share facility. I think its obvious Bryan thought he has an overdraft/drawable facility which it is not. It is like placing shares to Regal but takes longer to sell down and not an overdraft, nor reliable for funding. So why did he use Regal again after what we know Regal do ?....Because he was desparate. He got his budgeting horribly wrong and needed funds quick to pay off the incoming bills from the consultants. That $5m will likely be eaten up mostly by January/Feb is my guess.
HIO Price at posting:
9.3¢ Sentiment: Hold Disclosure: Held
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