On 30 Sept 2009 Southern Cross Equities (SCE) issued a bullish recommendation of Prana with a 12 month target of $1.10, Prana was then at $0.23.

SCE received 3.5M three year $0.30 options for services rendered.
What was the purpose of that ‘research’ report? Was it to secure funding from BAM Capital? Who around that time took a substantial stake of 30M shares and then played some very unusual ‘games’ which a suspicious person may have concluded looked manipulative.

Now SCE get to run a private placement to dilute existing shareholders by 100%. How much will SCE receive for this?
Why are existing shareholders not being given an opportunity to participate?
Though I’m not sure they’d want to.

At any rate at least Prana is now moving forward and doing something rather than nothing like they have since the 11a results came out two years ago.

Disclosure: As always this is the rambling of a lunatic. Who in this case owns shares directly and indirectly in Prana. You’d be crazier than I to base any decision on anything written on this blog, as it is for entertainment purposes only.

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