Private Placement Wow, what can I say. Raising $600K now when share price is at $1.50. The share price is down 30% in the past year, this could have and should have been done at a higher valuation. They did a similar raise 3 years ago I believe. Compare the company 3 years ago to the company today. Unfortunately they appear desperate.
There is nothing positive on this in my opinion.
The only interesting aspect is the 4 month lockup period that prevents participants from selling their shares for a 4 month period. That takes us to December. There must be some reason Management negotiated this into the contract.
This company continues to march at its own tune and operates completely opposite of many of its peers. To me that is a head scratcher and might explain why our similar staged peers have 25%++ institutional ownership and much higher market caps.