OTCPK:CODMF - Post by User
Post by
SuperMoneyon Mar 14, 2015 5:22pm
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Why people still buy shares at 0.015
Why people still buy shares at 0.015Under the terms of the Transaction, Sulliden will acquire each outstanding Coastal Gold common share for 0.05 of a Sulliden share (the "Exchange Ratio"). The Exchange Ratio represents $0.0166 per Coastal Gold common share, based on Sulliden's 60-trading day volume weighted average price ("VWAP") of $0.33.
however, the current SP for SMC is only $0.24 with a downside trend, which implies each COD share only worths 0.01 (=0.05*0.024) at present. If SMC share price continues to drop, each COD share worths even less than 0.01. Why people keep buying COD shares at 0.015? Any thoughts please. Thanks.