Nextnation - Private Placement Update

According to the announcement in Bursa Malaysia, Nextnat's application for a further extension of time of 3 months for private placement, from 24 March 2007 to 23 June 2007 has been approved by SC.

The SC had also in its said letter informed that this would be the final extension of time accorded and the Proposed Private Placement is to be completed within the stipulated timeframe.

Hopefully they will not place to any fund which tends to sell down their holdings fastly. This has been a big issue for Nextnat share price where it is so hard for it to move upward.

Meanwhile, it is a good news for the existing shareholders as they can expect bonus issue soon?

I hope the share price can move up to at least RM1 prior to bonus issue. Otherwise, it will remain as a penny stock which is out of investors' radar. It is frustuating to have a good and solid company like Nextnat to tag with 'penny stock'.

Ozura continues its aggresive effort to partner with overseas channels to distribute its developed games. The latest parter - Zingy Inc.

Once again, why overseas profit margin is low? (Please refer to my previous blog)

Hope to seek better clarifications from the management in this year AGM.