RE:RE:EARLY WARNING REPORTCertainly NOBODY should buy the shares on the offering. Last year the offering was done at .20 cents and that was below the company NAV per share. Look how those investors are now down to 7-8 cents valuation. The company used the money then for what?
Today the fair value of the securities portfolio is over . 30 cents Canadian. They want to do an offering at .07 cents. Well below FMV. EXTREME DILUTION at this price to each and every existing Shareholder.
All shareholders sgould wait and see how much money the managment and BOD put up on this round. Maybe they do the full $1M?? Then they would have some real skin in the game. They own about 5% all together.
Williamson and Adams own about 10%. IF it came to a shareholder vote on these corporate issues it is doubtfull that the current BOD and managment could win. Hence the offering now. For the insiders to try and accumulate shares at a knock down price. To maybe try and block a vote for BOD someday for control.