Post by
ok2buy on Feb 24, 2011 7:44pm
Non Brokered Private Placement
When I read the news release again I picked up on the fact that this was a non brokered private placement. So basically the company went out and beat the bushes themselves and found a buyer. Perhaps that is why we were not bent over significantly like if we had to deal with a brokered placement. We could very well be looking at a single individual or a small group of investors who came forward and can now garner the entire 3,500,000 shares @ $ 0.08. I will be interested to see if the entire allotment is filled and if word gets out who the buyer(s) are. Also, a 4 month hold on these new shares as well, so we will not see them in the market for awhile./ok2
Comment by
deet on Feb 24, 2011 7:52pm
What do you mean with "not bent over significantly"?This tiny pp is a non-event. There was some anticipation prior to the news release and that's what briefly sent the share price up to 10.5 cents. Once the news of the pp was released, sellers were back in the driver's seat.deet
Comment by
ok2buy on Feb 25, 2011 5:49am
Brokered Private Placements are typically offered up at a nice discount for those who get to participate. I was simply referring to the fact that this non brokered placement at 8 cents is certainly in line with what the stock has been trading at for the past couple months in the market place. So no large discount was given. I am happy with that./ok2