RE:RE:Explain this private placement.Abirdseyeview,
Let's assume you are right that the PP is being filled in the US. It has been discussed here and said many times that it is being filled in the US but nobody has given any proof and I think nobody really knows.
Anyway, lets just assume it is.
So what? This doesn't answer why it went ahead. To get exposure in the US? HUH!!!
If we have the goods then we do not need to do a PP to get exposure. If we have management that does a huge PP for one-third of the company just to get US exposure then we are really in trouble.
The only reason a PP should be done is if the company needs working capital. That is what Neil has said is the reason. If the company needs working capital then to me it shows that the $9.5 million from Wanbang is not coming any time soon. Also that there will not be much coming from Obagi... at least not soon.
Anyway, we have all been waiting for two NR's. One came today and our share price is down. I think that says a lot. A long time until the $2.00, or $5.00 as is often predicted here.