Re: selling
in response to
by
posted on
Oct 24, 2020 09:12PM
In agreeance for the first half, not so much the second. It is not a nefarious conspiracy, but it is simple math.
The current problem (or one of the current problems) is the desperate, toxic financing that was undertaken in 2016 hanging over shareholders' heads. Literally millions of warrants holding down the stock any time there's a smidgeon of demand. It's just that simple, supply >>>> demand.
The games come in where the warrant holders may decide to short and cover with their warrants, etc. Or as previously alluded to, they may choose to hold it down to have POET go back to the market looking for cash because they can not get those $0.75 warrants in the money (although I would hope they've thought of that and have a plan in place).
Read any of Rainer's last 6 messages and this is all explained with much more eloquence.
Below is the snippet from the Nov 2, 2016 News Release. It is a horrible, horrible financing. It almost could not have been any worse. It should have been a clear sign to jump ship because the boat was now taking on an additional bit of weight (roughly 35 million share of weight!).
"... public offering of units of the Company ("Units") to raise aggregate gross proceeds of C$12.5 million (the "Offering"). A total of 34,800,000 Units were issued at a price of C$0.36 per Unit pursuant to a placement agency agreement (the "Agency Agreement") dated October 28, 2016 among the Company, Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC [absolute crooks], as lead agent and lead book-running manager (and sole agent in the United States) and Cormark Securities Inc. as lead manager in Canada. Each Unit contained one common share of the Company (each a "Share") and one common share purchase warrant (each a "Warrant"), with each Warrant exercisable by the holder thereof to acquire one additional Share at a price of C$0.52 per Share for a period of 60 months following the closing of the Offering. ..."
https://poet-technologies.com/news/2016-nov-2-2.html