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05/07/17
20:25
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Originally posted by Sdaji
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Surandy: Wow, I hadn't looked into or considered that. So they're looking to raise $8 million and it's only possible to raise $2.9 (probably less as you say since we can assume at least some holders are ineligible and obviously not everyone will open their wallets)
They're no good at running a legitimate business operation, but they are experts at raising funds, so I'm pretty confident they have a plan to get their $8m.
I wouldn't be surprised to see them take up their own entitlement since they will be using that money to pay their own wages anyway. Pay money for worthless shares, the company you control owns that money. Pay that money back to yourself and your family as wages, and fool people into thinking you did it because you have faith in the company. Other people buy in too, and they can use that money to actually profit. It's amazing people invest in this company without seeing what's going on, it seems ridiculous to spell it out when it's so obvious.
Weglan: sorry to hear you've been holding since 35c. Probably around the time I first looked at AEB several years ago. I saw their incredible claims and thought it was interesting enough to look at, but the lies were too big for me to believe. If true the company would have been worth literally billions, so I was too sceptical to buy.
I don't think they actually have any belief that their marijuana will make them any money. They just come up with interesting stories they think will convince people to throw money their way. The algae oil was getting old and obvious so they went for something they could convince people was novel and lucrative. That was never going to get anywhere so they are saying some other crazy thing.
I'd have every confidence that we'll never zee 35c again. I'd be amazed if there wasba brief spike above 10c. As you say, it's a lifestyle company, they're not going to actually make any money, so it's difficult to have an increasing share price. When they come up with their latest empty promise or crazy idea there's sometimes a spike in the price, but with no actual value ever being there it can't be sustained. They do an extremely good job of running a lifestyle company though.
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Okay, I wasn't entirely correct. Turns out they are going to try and sell the rights of ineligible shareholders, ie over 130m rights. So they could potentially raise more than $2.9m but it won't be easy, expd
I am curious if they'll use some of the money to upgrade their spell checker, in their letter today I noticed at least three variations to the spelling of ineligible!