Well, IMO it appears that the BOD and management of both EKA and ADI lack financial savy - the polite way to put it!!
It makes no CENTS to raise funds right before big news to come out on a number of fracs and it doesn't appear that any wells are going to be drilled in the near future that would require some $5 million plus.
So the next question is: what kind of cap raising is it?
Will it be one of those types to the 'sofisticayed and professional' at a good discount so that they can reap huge profits when the frac results are announced or a SPP plan that treats all equally?
I guess we'll all find out how the ADI BOD treats ordinary shareholders quite soon.
But in any event, this timing is unreal, bad, but not as bad as the EKA cap raising!!!
ADI Price at posting:
29.5¢ Sentiment: ST Sell Disclosure: Held
