GREY:BXEFF - Post by User
Post by
zebra2on Mar 30, 2019 5:36pm
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Post# 29559217
Dilution
DilutionI understand the benefit of reducing annual interest costs by $12 million, but things must have turned pretty bad for the board to give away 83.5 % equity ownership, in return for a reduction of less than 1/3 current debt levels..In view of apparent deal, also surprizing to see less than 2.8 million shares trade on friday., less than 3% of total float. You would expect more selling, given the dilution haircut existing shareholders are taking.
I also looked at recent insider trading, and insider BUYING of 19,791 shares took place between dec 31 and jan 31, at prices between 64 and 99 cents. Seems odd, they would be buying at these levels just 2 months ago... how things change so qiuickly ..Small investor really has little chance with these penny stocks. As always, buyer beware.. , especially when BNN guests are promoting the stock. No wonder, cdn oil sector has investors fleeing in all directions. , but up....