The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Problem with that is bond price would be reset and we will see further conversion.There is no way out as I suspect we will see consolidation and rinse and repeat. Looks like quite a few people are trying to pump and dump it.
Good luck though, as over the years I must have seen hundreds of frauds but only couple of them were brought to justice.They have changed the tactics now, CEO resigns company chsnges its name and venture into new field and then fleece investors rinse and repeat.
Like retail investors would be allowed to take part in "this open offer" but that wont gain anything as company had total liabilities of 135 millions and would need to keep tapping market time and again. These assets are worthless so bondholders are in the same boat as private investors.
Wanted to squeeze this lemon for last few drops before turning the light off.Why did he pay that money for worthless assets when I3 energy bought canadian assets which are producing over 10k bopd and generating enough cash flow for similar amount of money.Someone must have made a lot of money through this deal
To everyone that there is no buisness here, these assets are worthless and any normal buisness would make shareholders some money it is other way around here.Shareholders are funding it and they tap after couple of months.TW was right from the start
They dont just need 2.5 millions I am afraid.Ever since they got that debt spiral funding share price is only going one way.And they have run out or options.It was crystal clear to everyone what was unfolding.Right now we have debt,bills and administration costs and there is no money, so hiw will bills be settled?You have guesses it right through placing..
Needs his/her head examining this is dilution on industrial scale leaving nothing for existing shareholders.As everyday more shares will be issued not to mention warrants.There will be consolidation at some point and then rinse and repeat.Now they are placing to even day to day activities.