Post by
flush777 on Nov 29, 2020 1:28pm
Very disappointed in the BoD for TGOD since they
dont do the best for their shareholders.
I am surprised again by another shelf prospectus for funding by TGOD. This means to me another dilution for shareholders who supported the company and the deals go to new shareholders.
So many times, we have heard that we are fully funded and this has not simply been the case. Funding occurred but not at prices when the stock was high but when the stock price was low.
Each issue of shares was further diluted by lower than market prices for the new shares and again lower prices for the attached warrants continuing the slope downward ... yup, existing unexpired warrants at $1.00 down to less than 25 cents exercise price for the newer warrants, I believe and yes, I am a warrant holder and an initial shareholder from the 50 cent public round.
It is a better decision to simply reduce the price of the existing warrants to below market than to issue new shares below market together with discounted warrants as a sweetner to further dilute the interests of shareholders.
I own shares in an unrelated company and they keep on extending the dates for the warrants when they get close to expiry. They save a done of money on legal, accounting and finance fees and further do not dilute the existing shareholders.
This would be a wise course of action, IMHO, but will anyone listen?? If history is a guide then the answer is emphatically NO!!
Flush777
PS - I wonder how Rob Anderson feels, the way the company has strayed ...