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Cloudbreak Discovery: Shameful options and warrants slipped out

By Nigel Somerville | Tuesday 9 August 2022


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Having watched (sub)-Standard listed Cloudbreak Discovery (CDL) get a smash-and-grab placing away at 7.5p per share (a 20% discount to the prevailing price) back in March on the back of some “interesting” boardroom buying, I confidently predicted that the stock would slump back to the IPO price of 3p before too long. Well, it has done worse than that, now sitting not so far away from the all-time low, at 1.775p. And today comes news of a stack of options and warrants in a midday RNS entitled “Amendment to the Stateline Option Agreement”. Except that as far as I can make out, the meat was the issue of the best part of 10 million options and warrants to directors, PMDRs, other members of staff and consultants. Oh, and don’t forget the death spiral!

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