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26/06/18
19:12
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Originally posted by clacko888
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TJ
Bergen will be monitoring the quantum on the buy side. They currently have the capacity to convert at 1c per share (5 day weighted average price rounded down to the nearest 1/10th cent) at any time of their choosing. Realistically, however, they won't convert and dump until such time as the Buy Side quantum at .2c builds to 20-30 million shares or more . At the moment there's a Sellers overhang at .2c (of 25m shares). It follows, while the Sell Side 'Excess' persists, Bergen won't convert and won't dump. Time, unfortunately is on their side.
Being on the buy side as a small investor at .1c is nonetheless a worthwhile punt. It's always possible but highly unlikely that one or more BIG Holders may decide to quit.
I'm sitting and waiting to see what happens next:
No capital raise can proceed in this environment and Bergen won't stump up for more until it sees a build up of buyers at .3c or more. The company will just have to get its act together and secure a worthwhile contract. No contract, No share price movement, No More $ to fund director and senior management expenses.
APG hasn't been in this position before (no prospect of raising capital [from Bergen, professional investors or ordinary shareholders without a material contract). How's the song go 'It's now or never' for management/directors to deliver.
Cheers
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less than 30 days mate and we are heading for a raising for sure , who is going to back these guys market cap at$1.769m at current price. I have a feeling there will be no choice for a capital consolidation and raise at maybe half the .1c it is currently at, even then would it be successful?