The Good News that Pisses People Off
Firstly, I re-read the press release from January where they announced a loan term sheet and ABL with Ocean Tomo. It reads that the loan offer from the term sheet is expected to close this quarter, not the ABL recapitalization.
So that means they have a multi-million dollar short-term loan expected to close by the end of this month, and a recapitalization, which is still in the works.
Now, for the good news that will piss people off: The recent private placement was indeed for peanuts, at $0.015 per share. This pisses people off because they believe that insiders are scooping up shares on the cheap while diluting the shareholder even more. Yes, all true. But, again, it is alway, always, always good news when insiders spend significant amounts of money to by shares themselves.
I get it. It pisses people off. And yet, it is still good news nonetheless. It means Spectra7 is heading for good times. Absolutely. There is no way insiders spend $600,000 this time, $1.2 Million dollars a couple months ago, and another million a year ago, of their own money, into a company they do not believe in.
So, be pissed. I get it. I'm scooping up as many of these shares now as I can.