TSXV:POI.H - Post by User
Comment by
lscfaon Dec 03, 2015 12:48pm
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Post# 24350938
RE:RE:Last bought deal
RE:RE:Last bought dealThat's the problem - they don't focus on the share price at all. It's irresponsible to abuse existing share holders like that.
The bought deal in May estimated they would have sufficient funds for 9 months. That would have meant the end of January 2016. They chose to raise only $7.5 million because like all these cocky tech mgmt they believed the stock price would be much higher then.
Had SLC raised $9 million more back in May it would provided cash until the end of 2016, and the additional shares issued would have been 9 mil / 0.46 = 19.5 million vs 45 million shs & 45 million warrants. A hell of a price to pay by shareholders for braindead corporate planning.