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Tuesday, February 25, 2020 2:27:22 PM
Nope, not this time. As a matter of fact, an investor can file a complaint to a judge in the right juristiction after the 13 month period is up in early March to order that this ASM not he delayed further beyond the date scheduled and impose a court ordered date if any delay is attempted. Besides this, this raise was anticipated before the ASM announcement, not expected to ding the price much on it's own and they waited to announce it after investors received some news that was taken as encouraging.
I even suggested that this type of financing would be "tolerated" but would still be like pouring cold water on rising investor enthusiasm and fodder for the bears. Patience with the strategy Linda and Les are employing is running out because many retail longs are tired of waiting without answers while this kind of opportunity for fodder feeding contonues.
All Linda and Les needed to do after the ASM announcement was something to demonstrate their continued alignment with longs and that is what frustrates many longs the most. They manage and control well but giving leadership to retail shareholder mindset is a battle they either choose mostly to ignore and or have no strategy to win in the interim. My guess is that they consider investor angst over financing in the interim to pale in comparison to getting to results so that is where they will focus all of their attention. Best wishes.
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