It works both ways. If they had the FULL amount then the EGM would be called and we would move to the next step.
So clearly we dont have FULL funding.
I guess it comes to a point, when do they stop trying and close the offer?
Not sure where the 0.5c came from. Had they actually done a ring around? How strong was support at that level? Would they have been better off raising lower? Staying in suspension? etc
To get it over the line, MHL should consider issuing free options. Not MHLO obviously, but something with a realistic yet rewarding ex price for the new investors.
Right now new investors are paying a premium to basically bring a very good project to MHL. THey are helping MHL not the other way around. The balance needs to swing back a bit and reward them more.
Why dont the European investors set up their own company/fund and purchase SOCA without MHL involvement? No premium involved their and no propping up MHL underperforming assets.
The answer is to make MHL attractive and rewarding without destroying existing wealth of us little guys.
MHL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
