Im tipping any "interest in investing" from any institution will involve a placement and dilution. Instos generally make their money by taking the fees and shunting the placement shares onto unsuspecting clients. Not neccessarily always at the clients detriment i might add, but either way i would be stunned if anyone started buying big on market. Why would you when you can bung them 5 mil for 6 mil worth of shares. They get cash, insto gets fees and rest of us get shafted again. If they are on the verge of success why would they care who wants to invest, everyone woukd be clamouring to buy on market. The good news seems to be cr before last was 5mil. Sept last year after that they had 3 mil in bank. Since then another 2 mil raised and now still 3 in the bank. Spending or "burning" 1.5 mil a quarter so getting close to sustainability if they can be believed on income cos nothing seems to be disclosable.
PYC Price at posting:
3.8¢ Sentiment: None Disclosure: Held
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