He knew. If he didn’t he was incompetent. It was entirely predictable. He sugar coated the road show as he would have known the appetite was at the lower level.
And the stock won’t drop like a rock. Right know it is riding on OTC mentality, the numbers simply don’t support $9 a share given the offering level and expected dilution.
That dilution will be a long term limiter on the stock price.
It’s the price Rory is paying for his Nasdaq dream.
Right now the terms of the offering are going to make it difficult to maintain a Nasdaq listing unless he pulls a rabbit out of his hat in the next 12 months. OTC “investors” might believe that with their pocketbooks...Nasdaq investors will have more of a “prove it first” mentality.
They will also do the math...the offering has the potential to DOUBLE the OS...the share price will succumb to that reality.
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