They raised the letter of intent with the market as they were in...

They raised the letter of intent with the market as they were in the process of doing a book build , fee annoucment

asx quickly started asking questions about the loi

yes is was non binding, conditional and subsequently withdrawn before the market was formally notified of the loi which included a price which was a whopping 50 plus percent above sp at the time the claimed letter of intent was made

And in asx responses nuh advised that it did disclose details of the loi confidentially to investors prior to it first being released to the market—- confidential sounding don't ya know

what better way to get people when you need capital so quickly yet again than to disclose confidentially that Samsung, sorry it’s independently owned subsidiary Harmon made an offer which was withdrawn as nuh is here looking for capital in the amount of 8 plus cents

since then it has burnt through many many millions in shareholder capital,

no the first time non binding highly conditional offers have been used to hype a capital raising or cause a short squeeze

but nuh despite it being non binding and conditional and withdrawn thought it was important enough to discuss with potential investors during confidential soundings as it was seeking capital ( again)