GREY:XEBEQ - Post by User
Comment by
MidtownGuyon Oct 16, 2020 1:59pm
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Post# 31729380
RE:RE:RE:Where is that guy?
RE:RE:RE:Where is that guy?If you knew anything, you'd know they did not have to do a financing for cash flow reasons, they did it because
it's a requirement for uplisting to the TSX, which they have announced. All firms uplisting have to do a $5MM+ issuance to meet the "$10miilion in the treasury, the majority of which is to be raised through the issuance of securities." Every venture firm does this right before final approval.
Shouldn't you know this based on your "vast" experience? lol
And they have a $40 million signed backlog and giant contracts pending. Your knowledge is way out of date, as usual.
tamaracktop wrote: Honestly don't know enough about it to proffer an opinion. All I know is I looked at their balance sheet a few months ago, and it was clear they would have to do a financing. Im surprised it took them this long to do it. What was management thinking? It traded well above $5 from July 23rd to September 10th! I knew they would have to do a financing back in June. Obviously management was greedy and hoped to do an issue at higher prices. Now that has backfired at the expense of shareholders and they have to do a dilutive issue at $3.60. I give management the thumbs down, which in my particular case rules them out of my universe of interesting stocks.