Looks like a tempting buy opportunity @1.6...
Printable View
Sold down yesterday and back in this afternoon. A 50% swing trade makes this one a darling for traders.
"It's understood that the VMob directors participating in the placement were existing shareholders, chairman Phil Norman and founder and managing director Scott Bradley."
...So those most in-the-know participated in the placement. So why would they do that unless one suspects that there is more good news yet to come...
While I think this whole thing looks dodgy, to be fair they probably committed more funds very early on in the process (though they were no doubt negotiating with McD at the time).
If you want to be a real conspiracy theorist, you could suggest they only closed the round once they knew they had the McD contract in the bag.
Particularly like the last paragraph... "VMob remains focussed on implementing the recently announced global agreement with McDonalds and executing further deals in its pipeline as it continues on its growth path."
The timing was always going to be delicate due to several factors converging at the same time.
Given that all listed companies would consult legal on matters such as this I don't really have a problem with it. The main interest is the 1c valuation v 1.5-2c+ for previous raises (need to check). Sure the company could nominate any figure if the SH were willing to stump up the cash, but some information regarding this valuation is what most people are interested in.
Thinking deeper I would guess this figure was directly related to the SP around when the raise was happening 1.2c. Not sure though.
Either way the company is currently massively undervalued due to a GLOBAL multinational contract-imo.