re: Ann: Binding HOA with Oryzon Genomics to ...
Hi Giz,
they need somebody to believe in them
nobody does
nobody will give them cash
thats the problem
Disagree with you slightly there. The problem is not that nobody wants to give them money but whoever gives money is given a haircut 10% minimum every month due to the predatory convertible notes. There is basically no reward for being a shareholder. Convertible notes are a kiss of death. They ensure the survival of the company but the death of the shareholder. They really should have done a big rights issue at 10c and canned SpringTree. SpringTree are responsible for driving down the share price to 3c and from 3c to now is due to the new funder.
Also note that both this new institution and SpringTree would be holding truckloads of unlisted options. So if the share price did go up, they would convert and offload on market for profit. So there will be another drag there.
The current share price is ridiculous even with the lack of sales revenue but that is entirely due to the convertible note funding arrangement. Such a shame seeing a company with such a good product getting shafted.
HTX Price at posting:
1.1¢ Sentiment: None Disclosure: Held
