OTCPK:MGMXD - Post by User
Comment by
BoldForbeson Oct 05, 2016 4:57pm
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Post# 25313902
RE:RE:What's with the news now
RE:RE:What's with the news now1. Can anyone remember if the $12M is the line of credit from Mr. Beaty? I believe it is. If so, the positive would be he is replacing some of his debt with equity (he is not getting diluted at least).
2. Interesting to see the consolidation of shares to dilute ownership by ~17.7% (~8.3M shares offered / ~46.8M current outstanding)
3. There goes by ~16% increase in purchases since the shareholder meeting, back to were I started (as a % of ownership) LOL
4. This might get us back into the mid-to-low $4s US, it will be very tempting...I would like to see some short positions first
5. Not sure of the Canadian rules, but US a stock has to be above $5 to short (for the average Joe at least). Perhaps this was one of the bad parts of the consolidation, inviting shorts?
Overall, a positive => they were able to raise $50M!
BF