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Share the same view. I was expecting a rights issue but not...

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Wuey72

2,204 Posts.

37

07/03/19

23:11

Post #: 37692109
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Originally posted by Nomadic_Investor: ↑

Well, I didn't expect they would try target retail investors, but my prediction of the raise was almost spot on, only out by a week or so. Unsurprisngly, no one interested on market anymore, and it's at a heavy discount (>40%) to the prevailing market price at the time it was announced.

But really, how long is a little over $800k (accounting for expenses of the offer) going to last? UUV has been spending over $800k a quarter in recent times, so grants/contracts either need to come in by mid-year, or will there be another raise down the line? The US Navy ANTX demos are not til Summer (US season), which is until August 26-29 (6 months away). So, will existing/planned funds, and any receipts, last until then?

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Share the same view. I was expecting a rights issue but not 800k. UUV won't even see the year out before another rights issue. Unless of course, they are expecting some large contracts in the next two quarters.

UUV Price at posting: 3.0¢ Sentiment: Hold Disclosure: Held
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