well....I'd have thought that Big Ed would have brought some of his own assets to AXM rather than look to us long suffering (existing just) shareholders to come up with the 'new start'. I have to agree with (mi123) to some extent when on this forum last Friday said that the reason for taking so long time is that major shareholders disagree with the price of capital raising. It requires major shareholders' approval to undertaking such scale of raising. these holders understand the intrinsic value of the company no matter how badly the management performed. to dilute their holdings, you have to pay reasonable price to control the company.
I too feel this turnaround bid is so expensive it hurts! It can't be argued that Big Ed doesn't have enough motivation to get AXM back on its feet....just look at the option structure he's asking shareholders for. Current Chairman Kim Robinson also had plenty of this type of motivation but still hadn't been able to meet targets.
I'm picking the share price tomorrow will drop to as low as ~0.003. Shouldn't go lower than that unless there's so many shareholders that just want to cut and run...no matter the cost. Alt Out!
DYOR
AXM Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
