RE:RE:RE:RE:11-21-2018 -- New IBC Analytical -- Superlig 640Thanks Dmajorminer, I think Ucore should hire you too, you're giving them too much damage with... (( :
Dmajorminer wrote: Medvic. There are several reasons the share price keeps falling:
1) Its still trades a $60 MM CDn market cap. A ridiculous valuation for a company with only a few 100K in the bank and really nothing else.
2) Reputation as promoters. They pat My69z by the post . They pay the market maker. They paid promotional writers. Posters with multiple ID's on stockhouse and several other boards. They isse meaningless press releases. Etc.
3) It will cost them an additional $12.3 MM US dollars to finsh acquiring IBC. ($1,3 MM remaining + $1 MM working cap contribution + $10 MM ) With the $US at 1.33 tha means a total of $16.25 MM CDN they have to find in the next 4 months. AIDEA not allowed to use money for that purpose . AIDEA will walk anyways now Steve IZAAT wont take part. IBC just becomes a shell.
4) Dilution coming . They likely need to rause at lease $20 MM CDN so they have some remaining capital. At .15 cents thats 133 MM shares. However the stock cant support even a few million shares of selling so more likely at .10 cents or less with a warrnt. Count on 200MM shares + another 200 MM warrants. That would make the fully diluted share count at over 800 MM shares. Yet Ucore still needs to build plants, buy property ( several million in tthat property option alone ) . I'd estimate they need another $40 MM. Just not possible.
5) Appropraitions bill reduced Alaska rare earth budget to ZERO for $132 MM. Ouch !
6) About three dozen other reasons for souring supply to lack of staff and molecular scientists, to Izzatts and Lifton wanting nothing to do with company, to three to four year build horizon etc,etc.
All IMHO. Good luck .