Addax Petroleum (fka AXC)

[2IRAs]

Remember that they called on us to invest in the offering, which many of us did. There obviously were many who didn't and this forced the company's hand to an extent. Paycuts would have been nice as has been mentioned. So the shareholders are not completely without blame (Offor and others). Also, mgmt mentioned the very high cost of doing the offering. Convertibles may actually have been a better deal than the offering was, I think.

So on the plus side, those who were able to have picked up a much greater percentage of the company than they had before, and even at a lower cost than what management and Offor paid for their shares in 2015. I know I have on many but not all of the shares I bought. This is an important fact, I think.

Another point is that starting after Nite became a market maker on this stock and at some point after the split, the diluters have been managed by someone or something such that the price doesn't go down by a factor of 10 every few months. I don't understand it but it's nice to see.

ALL EYES ARE ON TARACH-1