Rubicon

[t.rexjr]

Now the company raises $772,000 less fees with a placement. Sounds like money to cover administration plus Moriarty/Taylor payouts. Since RBC has no trading revenue other than through Aborgen, I hope this is not the way of the future.

I'm embarrassed for them. Failing to deliver for and entire career and having to put the hat out and beg for a parting gift. Good riddance as they say

[Xerof]

Now the company raises $772,000 less fees with a placement. Sounds like money to cover administration plus Moriarty/Taylor payouts. Since RBC has no trading revenue other than through Aborgen, I hope this is not the way of the future.

I don't see any Capital Raising announcement. I think you have misinterpreted the issue of 4m shares to those dearly departed FOR NOTHING. They haven't raised a cent imo

[mikeybycrikey]

Now the company raises $772,000 less fees with a placement. Sounds like money to cover administration plus Moriarty/Taylor payouts. Since RBC has no trading revenue other than through Aborgen, I hope this is not the way of the future.

No. This is the settlement. Well, part of it at least.

The settlement is $100,000 cash and 9 million shares. 4 million shares will be issued 1 April, with the balance to be by 1 April 2022.

So, the 4 million shares issued today is the first instalment of the settlement. It's an expensive parting gift but they don't seem to be raising money for it... at least not yet.

[Elles]

Doesn't cost money if you issue your own shares... Just makes ours worth less.

[SilverBack]

Thanks for corrections. My brain got stuck in first gear on this one.

[Schrodinger]

I'm embarrassed for them. Failing to deliver for and entire career and having to put the hat out and beg for a parting gift. Good riddance as they say

Read this the other day. Outrageous exploitation of shareholders funds. Who had the voting power to keep this rort? I would avoid their other investments.

[BlackPeter]

Read this the other day. Outrageous exploitation of shareholders funds. Who had the voting power to keep this rort? I would avoid their other investments.

Absolutely - and they have a long history of doing that. Some call them the "lifestyle" board.

But anyway - I guess the people happy to keep supporting them must have their reasons?

[BlackPeter]

Just came across this little gem when I checked whether there is any update on the latest (September 18) Edison report for Rubicon (and no, there is not):

"Rubicon worth twice share price, say experts"
https://www.nzherald.co.nz/business/...ectid=11185247

But don't hold your breath - the article I found is more than 5 years old. However worthwhile noting that the "experts" making this amazing prediction have been Edison, and the share price at that stage was 37 cents.

They probably just got the direction wrong and meant "Rubicon worth half the share price"!

And actually - I think this latter statement might still be true ... ;

Edison - the famous people predicting CRP to move well above $1 - and didn't they envisage as well an outstanding future for PEB "on the edge of glory" - this was 2014 as well?

Not sure - did they get it ever right?

[blackcap]

Not sure - did they get it ever right?

Haha yes. I do think Edison got it right. They got paid nice $ for company analysis that was paid for by the company that they analysed.

[Balance]

Haha yes. I do think Edison got it right. They got paid nice $ for company analysis that was paid for by the company that they analysed.

Edison research?

The day they put a sell on a stock, you mortgage the house and BUY!