RE:New Press Release - Robex Announces "Best Efforts" Agency Offering
Exactly what I have been telling this board. The project can't go ahead due to lack of funds, among other reasons. RBX is going broke as they pour money into a black hole, a super high-risk project that no rational investors will dream of putting money into. But it's only a fraction of the amount needed, so they are still dreaming of debt financing which is very unlikely. And the offer price of $2.05 is ridiculously high because the current market cap makes no sense. The reality is that there is basically no buying interest in the market. The only reason the 'market' price sits above $2 is that somebody has been assigned to support in order to delay the inevitable price crash. Otherwise the share price would be more like 50 cents, which would be appropriate to the risk level. The real reason for this financing, if anybody buys it, is to keep the management team employed a little longer until they finally hit the wall.