Reason #1: The Offering Is Getting Behind Us
On October 8, 2019, SCON stock took a turn for the worst. While everyone knew that there was an immediate need for funding, many hoped that the funding would be raised in a way that would not lead to dilution.
Unfortunately, in a press release on the 8th of October, investors learned that dilution was going to be the result. The company announced that it intended on raising $3 million from public markets.
At the time of the announcement, the stock fell to close at under $0.20 per share. After all, dilution can be a stock value killer.
Nonetheless, with the filing of the prospectus with the SEC the company is one step closer to putting this all behind them. Of course, this is exciting news for any investor that would rather focus on the long term potential.
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