At best, it's a very bad look for CYDY and the man
Post# of 154851
(Total Views: 444)
Posted On: 10/03/2019 1:55:18 PM
Re: Evil Rabbit #9190
At best, it's a very bad look for CYDY and the management team. Either:
1) CYDY needed $600K bad enough to send an e-mail to shareholders, which would be a horrible thing in and of itself (in that CYDY needed cash that badly), or
2) CYDY wanted to "do a favor" (I forget the exact description) for loyal shareholders and allow them to participate in one last "Paulson-style" offering BUT neglected to consider the impact on the SP of those same shareholders selling holdings quickly (basically all in one day for funds to clear in time for the stated closing date) to fund their new investment, all while the noteholder gamed the system even more to push the SP down to reset the conversion price to a new low.
Either way, not a great look from the outside looking in, especially when the cash raised doesn't even keep the lights on for a week at the current burn rate.
And the SP now sits in the mid-30s, so the noteholder is getting shares in the 20s (based on the low of .32). Circle of life!
I remain cautiously optimistic that the SP is at or near the low before the upswing begins. I've been burned before by that sentiment before, though, so I can't bring myself to add any more.
1) CYDY needed $600K bad enough to send an e-mail to shareholders, which would be a horrible thing in and of itself (in that CYDY needed cash that badly), or
2) CYDY wanted to "do a favor" (I forget the exact description) for loyal shareholders and allow them to participate in one last "Paulson-style" offering BUT neglected to consider the impact on the SP of those same shareholders selling holdings quickly (basically all in one day for funds to clear in time for the stated closing date) to fund their new investment, all while the noteholder gamed the system even more to push the SP down to reset the conversion price to a new low.
Either way, not a great look from the outside looking in, especially when the cash raised doesn't even keep the lights on for a week at the current burn rate.
And the SP now sits in the mid-30s, so the noteholder is getting shares in the 20s (based on the low of .32). Circle of life!
I remain cautiously optimistic that the SP is at or near the low before the upswing begins. I've been burned before by that sentiment before, though, so I can't bring myself to add any more.
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