Interesting.. Previous Financings above trading priceFinancings of 18 cents, 13.5 cents and 15 cents were all above the current trading price other than a single day or so in which the share price may have hit the PP price
Normally, the trading price is manipulated downwards in order to atttact investors .
In addition, these financings were sometimes over subscribed and were quickly filled.
Thats also unusual.
Its as though the Placees knew the business quite well, saw its extravagant future ( moving a village takes time and money but the gold underneath ...) and we're prepared to be patient.
Once again, we are seeing this same scenario in the the putative IPO price of Persistencs shares is well above its contribution to our balance sheet and trading price.
These seems borne out by...with the exception of a few days when blocks of 17 m shares traded hands..very light trading volumes over the past 10 years , indicating that our shareholders are real long holders....although some are holding for lack of profitable liquidation price.
The constraint on the IPO price has been forced by the 25 % dilution rule .
So, what we are seeing is a management team that is sensitive to share price undervaluation and taking appropriate action to ensure that necessary financings are done at the highest possible price..