Crazy,
Amazing posts as usual!
We haven't even been given assurance they have secured the 10 Million yet either.
I called the Company's IR person about this issue today. She informed me that the company has already received the bulk of the monies from the private placement. She also told me that they are expecting the legal departments of the firms who are outstanding to finish processing the papers soon. Given the volatility of the past few days, I'm sure that everyone involved wants to make sure that they have crossed the T's and dotted the i's. One last thing she mentioned was that they do not plan on issuing a Press release until they have all of the money in their account.
Well, funny you talk about that because I encountered the exact same 'problem' beginning of this week...
Had to close a financing of 175 K $ on Tuesday and couldn't because of the volatility we saw last week. I called up the broker on Monday... His response? Well let's just say that I knew we wouldn't be closing the deal this week! If 175K was such a problem, I would guess that a financing of a few million let alone 10 million wouldn't be very easy to close!
CPT are going for the average retail investor from what I can gather, and offer no banking services.
You are correct that the portal will be open all retail investors. However, if you happen to have been sent a copy of their investor kit, it states on the second page of the brochure that . . . "They will offer institutional account program for large volume transactions." In addition, I feel that there is no reason to assume that affluent investors will not also be using this service. After all, once I make my small fortune from investing in the stock market, I plan to use this portal. <VBG> The longer term outlook for SEG is to move into offering other financial products as well. I'm not sure if banking (in the traditional sense) is one of these services, but I think that given the financial focus of this portal that that idea is not too far fetched.
CC, even if the service is only offered to retail investors, most investors looking to expand their horizons by looking to invest in foreign markets can most assuredly be considered as 'informed or savvy' investors.
SEG will have 40 exchanges up in two years - double the number live in half the time! Even though these firms are giants in the industry, there is a lot to be said for SEG's 'First to Market' and 'Speed of Execution' advantage.
Mr. Chu also made it very clear that he plans to undertake an aggressive advertising campaign to get the SEG name in front of the potential clients who would be inclined to use this service.
As always CC, very concise and straight to the point!
Kind Regards
Ari |
