RE:RE:RE:RE:RE:ATMBINGO!!..Capital markets are pretty Gruesome at the moment and they are not epexted to get any friendlier any time Soon.,so it's of No surprise that they couldn't swing a PP..they had WC of approx 9 mill as at the end of March,and will most likely be much lower as at the end of June,in spite of taking in a small amount of cash from the warrants
with 1.5 Mill per month burn rate...well,you can do the numbers.
This last attempt to finance With ATM offering is their last resort,and should they fail to raise funds quickly,then the rumor running around, about a lowball buyout may become the reality..
IMO
wintersun10 wrote: Its more like they could not arrange for an acceptable PP. So, then they cooked up this deal.
The problem is Glamourcustomer Celestials deal calls for SAMPLES next year. Then sales a year or two later. Ofcourse that is if Celestial and Poet are still interested in each other in maybe three years.
Celestial Poets biggest accoplishment with a 3 years horizon maybe.
So, yeah. Poet will raise the cash. More at $6? Should be, if you listen to management. The market is telling us differently.
Position Of Strength north of $10, they never bought back. So, Poet will live on. The split allows for 35c Poet again, i am afraid.
Samples next year. Do they not get how awful that is. Stupid to pretrend that is a good thing.
Orangotango wrote: i think a pp ( wth new investor,not the same group/individual ) was better than this atm, this can be a timming bomb if they run out of cash without any news !!!!!!