Ouch... we hit $0.80 today (Fri July 04), and for a while we were sitting at a bid/ask of 0.80-0.85.
Date ... Time ... Price ... Chg ... Shares ... Buyer ............. Seller
Jul 4 ... 14:27 ... 1.00 ... 0.00 ... 2000 ... 040 Majendie ... 040 Majendie
Jul 4 ... 14:26 ... 0.85 ... -0.15 ... 1000 ... 040 Majendie ... 006 Green Line
Jul 4 ... 13:10 ... 0.80 ... -0.20 ... 1000 ... 006 Green Line ... 006 Green Line
I called the company and learned there may be another public offering to raise more capital for the company in the near future. They are currently doing up another prospectus in order to raise between $1.5M and $2M.
I'm not sure if this is generally good or bad; any comments? More shares means a dilution of the public float and possibly a lower value, but if it takes the company to the next level, perhaps this will help it up. On the other hand, if the company works on some promotional activity to raise the current price, the new offering may be completed with fewer shares at a higher price/share.
Ken Digweed of Compression also suggested that we will see more news releases in the next few weeks, and that they wish to keep shareholders aware of the happenings, which he admits has been 'lax lately.
Randy Pointkosky is no longer a part of the company (to my surprise). It used to sound like he ran the show (around this time last year). Anyway, the focus has shifted to more local markets, particularly in Canada, and then in the US. The European market will follow afterwards. Also, the company is looking for some other OEM companies in addition to the contracts they have with Paradyne. They are looking at corporations like 3Com, etc....
Anyway, things have been too quiet. I hope this is the lowest of the lows...
Ben. |
