RE:Such a huge financing at this low share price level is in kukaman wrote: my opinion not in the interest of shareholders. Existing shareholders will obviously be extremely diluted. It is basically a sale of more than half of the company for a fire sale price.
Luxton claimed in one of the investor calls with Redchip in June that I attended that the business year 2022 will still be the year of revenue growth, only at the back end. Note that the business year for KWESST ends on September 30. Luxton should step down, he has done way too much damage for shareholders.
Kukaman, I agree with your comments. 40 to 1 share rollback is rediculous, I laughed when I read that the rollback would be voted on by shareholders. Really, when and how is that process suppose to take place in the next couple of weeks?
It doesn't matter the company insiders would have enough votes to do what ever they want. The other thing is that the management is desperate, once again they are out of money, they have done these placements far to often during the last few years and shareholders suffer while management continues to line their own pockets.
How would feel right now if you participated in that financing at $1.25 back a couple years ago? Should have followed Bruce Cambells lead and sold this pig long time ago, too soon old too late smart.
To David Luxton and the Kwesst management team, SHAME ON YOU ALL. I know that none of care your one bit about your shareholders, yet you all feel entitled to huge salaries and endless stock options. Great products, sadly though a very misguided management team. What a joke.