A larger placement will tell us that something else is in
the works. A 5%, then UK, then partner, and then around
$5 million to OXO is fine too. Any more cash than that for
OXO from a 5% and I will have the first serious error in
business plan execution marked.
A well run company would have issued a PP at $10-12.00 when the stock price was at $13-14.00. I disagree with your assesment as to errors in business plan. A management group with a thought process that looks beyond 6 months would have protected the downside by doing a PP at higher prices. This is not "hindsight" this is what you pay 9,000,000 shares in incentives for...."forward thinking" not scrambling! Anyone can scramble, few can plan ahead!
In the pursuit of shareholder protection against dillution " a responsible group would have taken out a PP" at the higher prices, when they had the chance! however, in saying that, someone would have had to "take the paper", because this managment group has not garnered any respectable brokerage following, that would have been very very difficult to achieve. So pick your error, but both are errors that can be trsaced back to one group only.
This is a wager for me now, not an investment, as stated earlier.
the Chief |
