You must not know many Chinese people.
It's called saving face.
Yes, for some people it is actually important to do the right thing.
$7 Million (or perhaps more) to give the investors a small piece of what they put in, tells future investors you will not simply throw them under the bus. Which could mean the difference it getting a $10 Million financing and a $100 Million financing.
As we can see, the company has rejected increasing the A/S several times.
If this was a simple P&D, why wait 3 or 4 years to actually Dilute shareholders to death?
Maybe things are not so clear right now?
If this was dilution, why not just smother it to death?
So, I am considering the possibility that someone else may be shorting the stock.
(By this I mean other than NIR Group.)
If the company doesn't raise the A/S what do you think will happen?
