SMN 1.00% 49.5¢ structural monitoring systems plc

Ann: Half Year Financial Report, page-11

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  1. 912 Posts.
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    Bobby, it's a fiasco.

    It's an incredible story about the greed of one man.

    The year was 2016, and all the talk was about end of year.

    Conference call of the Century back up with bullish statements.

    Come 2018 at the AGM, and the words flowed off the tongue like taking candy from a baby, with the catch phase "We don't care where the share price goes, the lower the better" 

    We certainly do not require more capital raised at $2.25.

    Truth be known, over the last  couple of years our cash position is in free fall. From over 5 million to shortly going below 2 million.

    So why the hell would we want to raise more capital at $2.25  per share, when we can do a dilution under 0.70 cents?

    We are bankers at the end of the day.

    The share registry is full of yes men, so no probs because we are the greatest.

    If you voted yes at the AGM, you get what you voted for! 

    The share price is back to Dec 2015.

    Happy days. 
 
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