FinancingSo sick of owning this. They closed the financing last night and only raised a little over half of what they wanted to.
seems ridiculous. I participated in 5 of the 6 previous rounds of financing until new management took over. Then it was like I didn’t exist. They diluted the heck out of me (necessary, I admit) but never gave me a chance to keep up by participating. Then they fall short this round and never even called.
They’re sitting on some great properties, but I don’t know if they have a path forward at the moment. I thought the new guy had made money before and had connections to guys who had money. Drilling is the only way to get traction right now and they can’t raise enough to do a meaningful program. They’ll need to get lucky on their next hole or two.
sold a few more today. Glad I lightened up in the spring too. I used to have 3 million shares. Now I have less than 10% of that. Sick of NetworkNewsWire rehashing the same stuff on here every few days. Now they’re going to pay somebody else to pump us up for $7,500 a month. Brutal