Clearly the only way that the rights offering raises a single cent is if the share price goes to above CA$0.05 and holds there before the offering ends.
Is it actually possible EXS mgmt has such limited business sense that they believe that by thinking and saying that EXS is undervalued they can ignore how everyone else seems to value it?
Otherwise, they know the rights offering is a non-starter. That means the whole "TPW financing plan" is the other two parts of the outlined actions: rollback and name change.
That would have to be immediately followed by a financing as EXS must be close to broke at this point in time, and if not then surely after the expenses of the Annual and Special Meeting. From what I have been seeing companies with marginal established resources and with expenses to be covered and with empty treasuries financing have been at unit prices discounted to market that are a full share and a full warrant, for less than market price for one share. Great.
JMO
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