unsophisticated investors?

When I first read today's announcement, I had the usual reaction that I have to reading the words "sophisticated investors". I cringed, swore and complained to the first person that would listen.

Now that I've had a chance to think about it though, I'm not convinced that it's all doom and gloom.

Usually I'm convinced that "sophisticated investors" only get on board because of the discount; so they can dump and run. In this climate though!? With this (almost non-existent) buy support!? I don't know... in my opinion that would be a pretty reckless (unsophisticated) move on their behalf.

I'm now thinking that it's altogether possible that they've caught wind of something happening with the Pyrolysis project. That, or maybe they are really interested in the gas prospects.

Again, that's just a possibility. There are many possibilities, including the popular one: that we've just been shafted.

Secondly, it's only a small dilution. Would the people that are stating that it's not worth $400k prefer more dilution, or another SPP? Doubt it. The small amount could be confidence in things turning around. Of course, it's also possible that was just the most coin that they could get... which would be quite sad.

So yeah, in short I'm not happy about today's announcement, but I don't think it's necessarily the end of the world. At least, not yet...