Indiva Ltd V.NDVA.H

RE:RE:3.5 Cents

[nedstar71]

nedstar71 wrote:

Duster340 wrote: could be a bargain if the selling is done. last time there was a big selloff the stock dropped to 2 cents and then recovered to a high of 12.5 cents not that long ago. 

Doubtful the selling is done.  High probability those were more tweed shares selling at the 3.5 bid today and they have 34 million shares to go.  No idea why they are selling but rest assured, to them half a cent or a penny a share doesn't make much difference.  They seem to be hitting whatever bids show up within reason.  If it continues, 2 cents or lower isn't out of the question.  Indiva management would be in a blackout period with the strategic review going on so they couldn't buy or sell shares they wanted to so won't be any signals there.
June 13th will tell the tale as to whether this is a good price or not.  I'm thinking a large dilution stake taken by somebody to take care of some of the debt combined with a 1 for 10 or 20 consolidation.  A real shame the debt has put the one decent mj company in such a bad predicament.

Further to this, the June 13th deadline may have something to do with them needng to have some sort of clarity and plan in place when mailing out voting proxies, management information circular etc for the AGM which should be in July. 
Worth noting Auxly, also trading at 3.5 cents recently sent out their voting proxies which included the request to approve a 1 for 50 consolidation. 
I likely was under guessing when I said 1 for 10 or 20 here.  A 1 for 50 is indeed needed.  No point in not getting the share price at least above a dollar or two.