Originally posted by tutes
Bas, does it matter even if one bought at '3 or 4 times the price'?
If it's going to drop to 0.003 as you say, no matter what your average is, you would sell all at 0.005 and buy back at 0.003 - that's just pure logic.
Unless you're not so certain like you sound that it will drop that low?!
Could easily rise from here with one positive announcement and your plan to sell and buy lower would backfire.
Morning
@tutes
Yes - what you say makes sense and could well be the best approach. I have no crystal ball.
If, I did know exactly what might happen from here, I would be preparing for a 3 month sojourn in the Whitsundays on my new yacht.
Me : if I were looking to play I would leverage off the options - although the March expiry makes that a rather risky play. Glad I sold mine, In my opinion, it all depends on when the "announcement" arrives and what is in it! They need cash so they need an announcement.
Therefore, those needs might open up an opportunity to trade some heads or options. Might be worth a trade or two? I reckon the best thing would be - if I still believed in the story - would be to get 'free carried' as quickly as I could.
I just think that a CR might be just around the corner. They need to pay the bills and Nick's salary. Difficult to know how they might approach the cash situation. There's just over 2 billion shares on issue presently and a swag of options which no one will convert I suspect (unless good news turns up).
Maybe a CN or two? Frankly, I have yet to see a CN that seems to work in the interests of holders - always seems to be in the interests of the CN holders. Equivalent to loan sharks in my opinion. The terms are often very onerous or, involves a hugely discounted share giveaway which gets sold into when the time is right.
A friend of mine loaned a company $10,000 via a convertible note (10,000,000 shares at 0.001) and not all that long after the $10,000 CN issued - it was converted into $170,000 cash (entire holding sold on market at 1.7c) - staggering. Even I was speechless. Interestingly, that company no longer exists. I remember reading the HC thread for that company and it was the same type of posts - retail investors all talking up the company while large parcels from the CN's (my friend and others) were being dumped on the market - then the penny dropped! All perfectly legal. And I couldn't help but think that it was just a vehicle for players who had taken CN's just to accumulate cash. Tragedy for those who were invested because they thought that the company had commercial legs. Maybe it did - not sure. Irrespective, I couldn't turn my gaze away from how $10,000 turned into $170,000!
Talk about laugh all the way to the bank. Mental note to self : watch the terms and conditions of CN's very, very carefully when operating at this end of the market.
If TV2 added another billion shares at 0.003 say that would raise around 3 million (exc cost etc.). However, there would then be 3 billion of shares on issue. They have already undertaken a previous consolidation (of which I and many others had to sit through).
A consolidation brings risk as one never quite knows what the SP will be the share re-lists.
Now if they could announce a significant revenue stream prior then the game changes. But see how quickly we arrive back at that point again - the promise and possibility of a reliable revenue stream!
My point - how long now have TV2 holders been doing that dance?
Are you still long on this or trading it or both?
