It has been more than 2 months since i posted any blogs. Within this short period of 2 months, a much anticipated correction has occurred. Even before the correction, I was closely monitoring Centillion and i was very disappointed when it issue the new option shares to Equation and Oei Hong Leong. Each subscribed for 948,742,172 shares at $0.008485.
I wondered what was the management thinking. To raise funds, why would they give such a steep discount to these 2 investors? The price was at about $0.20. If any of these 2 investors were to dump their shares even at a discount of 50% of the $0.20 price, they would still have made >1000% of their investment in this deal. It seems too shady to me.
So when the price was slowly falling with weak supports and volumes, I cut my losses at $0.175 about one month after i bought the shares. I was relieve to see that the shares did indeed plunge to $0.10 within the next month(Aug 07).
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