RE:RE:RE:why do a financing now?Are you telling me that getting that $400k @ $0.25 was critical when they already have $10M ???? Really getting 4% more cash the worse trading day is a necessity ?
I understand that you do financing at market value and not book value. But doing a financing on your first day of existence is first time I see. Normaly companies try to select favorable moments for a financing. I was happy that FOR started with $10M exactly for that. Not need a financing right away but be able to use a good timing.
It doesn't take a genius to understand that many people don't give a damn about FOR and they became SH only because of the Brigus transaction. So they will sell ASAP on first few days that trading resumes. Already on day #2 the SP was up 30%. what was the rush ? They don't believe that FOR is worth more than $0.25 ???
Announcing a financing 30% below SP and 52% below cash value is not normal and doesn't announce any good things from this new company. This is not financing this is a gift the first day of existence and they want us to be stupid enough to trust that they work for their SH.
Hey at $0.25 I will buy 51% of FOR so I can take control. Than divide the $10M cash back to all SH. That is $0.38 which represents 52% gain compared to the $0.25 price they consider fair for the financing. And in the end we can donate all the properties and get tax discount on top of that. Why is this more crazy than call what they just did a financing ???
I just get upset when people think we are stupid enough not to see non sense.