PINL:NEPTF - Post by User
Post by
gwrbion May 11, 2010 10:51am
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Post# 17084363
Financing
Financing
Cleland's latest letter is out and seems to support the $15M financing as a discretionary decision by management, and not really required. He sees this as a good news story that will accelerate the company's advancement.
Not that Cleland is the "be all, end all", and he has certainly been proven wrong on many fronts. However, he remains the largest single shareholder (via his funds), and appears to be welcoming new institutional money.
(If management would have disclosed their intentions a few months back, in the form of its exciting next stage in its development, and as a way to expedite its growth, etc. - last week's announcement would have been share price catalyst -but out of nowhere, on the worst possible day, it caused a resounding thud!).