Hi Kitty,
Firstly, I have stubstantial money in this company which I hope will not turn to a permanent loss and it is not play money. As others have mentioned this company has made a few mistakes but has been quick to admit. It did need a new direction and that is happening now through the chairman who has only been in the job approximately 12 months. I believe he is on the right track.
I was surprised too of the announcement of the SPP because my thoughts were that the chairman’s letter did not mention it, but had he done so maybe the shares would have gone lower. Shares issued at 5.5 cents was approximately 10% lower. If it raises the $2 million @5.5 cents it will increase the shares outstanding to 200,289,063 bringing the share price to 5.99 cents from 6.1 cents. No big change.
Let’s hope that this pays off.
VMT Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
