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Ynvisible Interactive (TSX-V: YNV), a developer of low-cost e-paper displays, announced a $500,000 private placement at $0.10 per share while it still had over $5 million in cash and no debt on its balance sheet at the end of its last quarter. Four days later, the company's CEO published a shareholder letter highlighting how the stock's current valuation did not reflect its full potential and that it intended to enter into an investor relations and marketing program to build investor awareness. Why would they raise unnecessary capital if their stock is undervalued? Oh, I forgot to mention that insiders participated in the financing just before embarking on the IR program. What a coincidence!
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