It seems to me that AAM are using the wrong advisors re placement and money raising.
RMS got theirs away at an 8% discount whereas the AAM "brains trust" have to offer a deep discount of 42% to "sophisticated investors - identity unknown - but believed to include themselves and cronies/associates".
Yet more evidence that the Directors have well and truly botched this matter and whilst I am on record here as stating that we must now give them a chance to push this matter forward, I would like them to consider this motion:
"In the light of public response on a certain internet share forum to the recent announcement concerning the private placment of shares at 8 cents, that the company also consider a placement to all of the shareholders for a similar amount."
To give the company some idea as to the seriousness of shareholders to back this at such an outrageous knock-down price, (remember DArgent seems to suggest that the shareholder base could be flaky), may I suggest that we conduct a straw poll on what could be likely.
I am good for 625,000 shares @ 8 cents. What's the feeling of others?
FINAL COMMENT: I've never heard of a company going broke because they had too much cash...but the reverse is not true!
AAM Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
