RE:RE:Find Out…That's a webinar. They will be filtering out all the investors outrage and merely loading feel good questions.
My beef is not about raising money (knowing they had too) it's how they have executed this.
Just because they wanted to show cash on the ledgers for the December 31st quarterlies they execute a raise during the height of tax losss season. Stupid
They could have easily filled a raise at 23c without warrants and did not. Stupid.
This is an insiders pocket lining raise, plain and simple. Stupid.
This raise could have happened in January, when the shareprice would have been higher and probably raise the money at 25c with price escalation moving it back very quickly on anticipation of the January 31st fins.
This was nothing but a rookie management team getting sucked in by Research Capital for 8% + $100,000 which equates to them being given 1.7M shares, 1.5M which they will turn around and sell on the open market (killing share price).
This was so poorly thought through I have lost a lot of respect for management.
So many options were available and they failed horribly.
Very disappointed too say the least.