In the original placement he wanted to raise £750K but only managed to raise £414K, so a bit short of the targets you would say, the most resent placement raised £395K, which brings us to a total £809K. How long that will last once we start building the pilot plant. Who knows!
Good post. I agree with that. We still remain largely devoid of any specifics here, which continues to be disappointing. Not only to the detriment of us shareholders, but also there is nothing of substance yet to support the flailing sp.
A different approach from Alex must come, following ZEMA, if our fortunes are to be reversed.
As private investors is there something we are not understanding about the statement "Fully Funded"
The majority on here appear to agree that our understanding is that sufficient funds are available to proceed with the business plan, however it appears that Alex Borrelli has a different interpretation?
I know going forward I have decided to think the opposite when I read this statement.
As irksome as it may be I do believe it's self inflicted by Alex Borrelli
If we were in post ZEMA approval position prior to rising money at a lower SP then maybe MM's would've had a tougher time lowering the SP. However, with the risk of not receiving approval they can freely move the SP especially when the Chairman raises money at heavily discounted rates.
If we had fundamentals to value the company on (costs / profit projections / patents) then two things would've happened. For on the SP would've recovered quickly as the money raised could be explained clearly and we'd know what it was to be used for EXACTLY. And the other would be that we would be tearing our hair out asking why he continues to raise at such relatively low SP.
Any future money that is raised should hopefully be raised from a position of strength (post approval) and not at pi55tak3 rates.
A placing may not take too long to arrange though. Depends who it is with I reckon. Could be just a quick phone call. Lol. Anyone would think that this is being held back though, considering the sp. It would be nice to see it moving way up, then kicking on after good news and remaining higher. The old higher lows chestnut.
I agree re the funds. The last placing took many of us by surprise I would say, considering we'd already had one in February. We have to pray that it is because something very good is planned to happen, otherwise Alex could have raised funds after ZEMA approval, at a much higher sp.
I would expect that a placing takes a while to organise and be approved.
SP started its real upward trend 21st March (Chartists, please forgive my simple analysis), placing wa announced 21st April. I would expect this was being organised and the price set prior to the increases.
I'm not so concerned with the movements up and down before we get news.
I'm more concerned as to why we are "continually" raising funds (diluting our holdings) when we have been told numerous times by AB that all necessary funds are in place.
It's either a worryingly bad situation, or something very good will happen. Can't see the SP just limping along with modest increases.
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