Replies to post #20 on Tuffnell Ltd (fka TUFF)

[tmsocha]

Tuffnell a stock that was trading at 0.58 on April 14. Then trades at April 15 (0.65) to April 22 (0.95).

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On April 23, 2010, the Company closed a private placement of 500,000 units at $1.00 per unit for a total offering price of $500,000 to one non-U.S. purchaser. The units were offered by the Company pursuant to an exemption from registration under Regulation S under the Securities Act of 1933, as amended. Each unit consists of one share of common stock of the Company and one non-transferable common stock purchase warrant. The warrants are excercisable at a price of $1.50 (US) per share commencing April 26, 2012.
Why buy at $1.00 when the stock was trading at 0.58?