At 150k in costs it is not a cheap way to raise . so 10% gone in costs ( haven't read fine print yet ) . Extra costs and time to consolidate would possibly have put em insolvent so if they get this away they may survive and have a opportunity.
The floor at least stops it going down but there is always midpoint trading if you wanted to have a punt!!!!
Been watching a few of these last pip companies and most end up there as either complete failures and basket cases and have used convertible notes in spiral debt financing to get sold down at any cost . ABV isn't in that basket but you have to wonder when 2 of management are only taking up min amount in shortfall. Hardly skin and the game? CN payable in december if not renegotiated will suck all cash?
Yes I as you know have been shaking my head at these guys for years with their business plan for what I like as a a great product that has sat on shelves.
ABV Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
