Replies to post #32212 on Lexaria Bioscience Corp (LEXX)

[PotsandPans420]

I agree. I believe he thought Altria was moving forward and thus the stock would rise and he would be able to do a capital raise at a much higher price hence less dilution.

So again Abundance you aren't understanding. The 2 small capital raises doesn't mean they couldn't raise $11m in one shot. IF Bunka is expecting positive Altria news and believes his stock is low why would he do a massive raise at a low price?



Also look at where this money is going

"The net proceeds to the Company from the Offering, including proceeds received upon exercise of the over-allotment option and after deducting the underwriting discount and the underwriters’ fees and expenses, were approximately $9,629,490. The Company plans to use approximately $3,700,000 of the net proceeds for research and development studies and the patent and legal costs associated thereto, with the remaining net proceeds to be used for general working capital purposes."

So 38% of the funds is being used to research and development studies and patent costs. Ok makes sense. the other 62% general working capital purposes LOL. SALARY.