I very much doubt Patto's would cover the stock now.
As part of the raising done at 4c a couple of years ago the company probably got 12 months worth of research coverage. Unfortunately it coincided with the lack of progress on the ground in Africa....
As for a cap raising, we have just done a convertible note deal that ensures the company has more than enough funds to complete the trial and collate the results, so IMO there is no need for a cap raising.
The move today is just a step closer to what I think is a more suitable market valuation of Eastland (for reasons I have mentioned plenty of times so I will not bore you again)
Except to say that even at 2c a market valuation of $12m for a company that is 80% through a Phase III trial using an existing known effective product and altering the delivery system to bring about higher absorption rates that can be administered by non-medically trained personnel in remote regions the SP is still undervalued as far as im concerned
Sorry, couldnt resist :)
EMS Price at posting:
2.0¢ Sentiment: None Disclosure: Held
