betman here's the last PR
Glenbriar to raise $105,000 from its management
2007-02-26 16:56 ET - News Release
Mr. Robert Matheson reports
GLENBRIAR ANNOUNCES PRIVATE PLACEMENT
Glenbriar Technologies Inc. is planning a non-brokered private placement of 1.5 million common shares at seven cents per share, for gross proceeds of $105,000. The last closing price prior to this announcement was eight cents per share. There are no discounts, commissions, finder's fees, warrants or options in connection with the private placement. Proceeds will be used for general corporate purposes. All of the shares have been subscribed for by Glenbriar management.
"General corporate purposes" Take a look at the previous quarterly statement in the last PR before this one. Profits were up and if you look closely sales were down... So the profit margin is increasing and we are supposed to think these are for general corporate purposes...HUH? GO figure. Find that a little hard to follow why the management is spooning in cash unless they expect a big contract or some other "trigger" event soon. Dilution was about 5% quick cranium math, we are now just shy of 30 million shares.
Best ...Rich
Anyway the chips fall. There is no better substitute than YOUR OWN DD
Including mine...good luck!
