quote: '...it is totally beyond me why some people are selling...

quote: '...it is totally beyond me why some people are selling at 1.1c!'

It's just the Gods letting me build a decent holding, before SBN's earnings turn positive! (I was partly filled on Wednesday at 1.1c, and then again at close of business Friday). I'm still not fully taken out, so the supply is still tighter than a ... oh, never mind!) ;-)

With regard to the rights issue, I have to say that I’m quite happy with the retention of a decent parcel of shares for strategic purposes. Providing SBN has sufficient working capital I’d rather not see any further dilution*. Hopefully the remaining shares will either be issued at a premium to the original offer (assuming the SP supports this), or to a new strategic partner, who won’t dump the stock in a few weeks.

* By my (loose) calculations SBN is only about a $7.7 million dollar company right now, so while the SP may possibly continue to temporarily slide (hardly unusual after a rights issue) in a thin market, it just makes for great buying. Imagine how the SP would go if they started a share buy back once they are cash-flow positive!