TSXV:POI.H - Post by User
Comment by
Leafs4Lifeon Jan 28, 2016 2:06pm
121 Views
Post# 24502523
RE:RE:RE:Spoke to Cameron...
RE:RE:RE:Spoke to Cameron...The market will not react well to a lowered offering, which is why they are trying to get all the investors in place before they announce that the offering has been lowered. I'm not sure if it will work (and judging by the fact that they secured a loan for a million dollars, they aren't sure if it will work either.)
The repricing should have been done weeks ago but management failed to act.
Getting too little money during the RTO was understandable, they didn't fully understand the business at that point and were overly optimistic. Getting too little money last May was a huge and possibly fatal error. This is not hindsight either, check my comments, I was saying that they would need to raise more money, again, MONTHS before they came to that conclusion themselves, and I realized it using old financial documents. It was obvious. If they had raised more money when they had the chance they would not have put themselves in this position with a depressed share price and terrible market conditions.
But this management group doesn't seem to know what they are doing.