Bluesky Digital Assets Corp C.BTC

and down near the bottom of the NR ...

[KozmoT]

"Due to the lack of demand for the Corporation’s Rights Offering, the Corporation applied for, and received, a price protection of $0.09 CDN from the CSE on November 16th, 2020 which the price protection has been applied to the Corporation’s current private placement offering"

[Lonestar7]

So can you tell me what this means for the share price? I'm gonna guess drop to 9 cents?  like did their bitcoin mining machines break down ? How the heck could they not be making a mint at the price of Bitcoin today?

[KozmoT]

Well, think about it - they applied for shareprice protection AT 9 CENTS !! but the shares are trading at 17 cents. That tells me they are comically overvalued at 17 cents and once people clue in they'll try desperately to sell and get out but won't be able to cause there'll be nobody wanting to buy this garbage stock. As for their whole bitcoin scheme - look at the financial

[MAZZMEX]

Lets put some contexte in the equation... they announced the rights offering at $.12 on Oct16th when SP was @$.10. Not enough sharholders came forward to participate and by Nov 16th, when the SP was still @$.12 they got the nod to do a PP @$.09....Now the first tranche closed with $723k out of $900k, so whatever is left for the second tranche won't drag the SP down to $.09, especially that