GREY:ARGEF - Post by User
Post by
skyyvodkaon Jun 10, 2015 1:39pm
318 Views
Post# 23816531
What happened?
What happened? One 'unit' cosist of 1 common share and one warrant valued at .465.
The total price for the 'unit' was .37
The price for the common stock when the news was released were .39.
Everyone and their mother would be crazy to not sell and get the 'unit' instead of the common stock. I as a European do not have an easy time getting hold of 'units' so I am basically screwed unless you have a good broker.
This switch of common stock for 'units' triggered the downfall and RGX as an illiquid stock could not cope with the pressure. When the less informed see a stock take a dive they sell and I can't blame them.
What the management missed was
- Talking about debt and debenetures as the way forward and then turnaround and selling warrants. Communicate what you are going to do and then do it!
- Not informing shareholders what amount they were looking for, is it $10 million or $30 million? How much are we going to be diluted? We can only guess....