No More Equity IssuesI agree with Revten and MM about the buying opportunity. So I have no problem with existing shareholders acquiring at low prices to combat the regular dilution that has occurred through bad equity raises.
Where I do have a problem is the apparent careless and thoughtless issue of equity spearheaded by our CFO/COO/CEO. We've witnessed an issue at $0.60 per unit in 2020 that served to drag the trading price from around $0.80 per share into the $0.55 range. Poor planning or poor execution or both. Then this year an apparent spur of the moment issue at $0.425 per unit when we were trading in the mid to upper $0.55 per share range. Continuing poor planning or poor execution or both.
My biggest fear is the bumbling will continue while we're in the $0.21 per share range. Will an idiotic issue be done at say $0.15 per unit? We should insist that a proper marketing be done now with assurances no more share issues will be done until it bears fruit. Indeed we could even set a floor price of returning to the $0.80 per share level we had before the bumbling started. Then issues can be done at that level or better. If we need real IR and promotion in Canada and the US then get some. We have been spending valuable dollars (raised at stupidly low share prices) to pay these people overseeing the program. Time for us to get real value for dollars spent including the C suite.