DGR 0.00% 1.5¢ dgr global limited

Just putting this into my ill-conceived one-eyed point of view....

  1. 979 Posts.
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    Just putting this into my ill-conceived one-eyed point of view. The shareholders of AJQ had a number of capital raisings over the last few years to pay off debt and to pay for a new venture (MacArthur) which was highly thought of as a goer. Many millions of $s extracted from shareholders and lots of debt was to be paid off. However, we then found out the debt was not paid off and tens of millions (from memory it around $45 m) were still owed. A company was contracted to clean out our existing and producing gas wells which were completely ruined by this expert company selected by the bod. Production collapsed. Then we hear that we had to buy gas from other gas companies so that we could sell gas as per our contracted obligations which was then on sold at a much cheaper price than AJQ had to pay......another hit in the stomach. Lost literary millions of dollars. Then capital raisings after capital raising after capital raisings, all resulting in the value of our shares dropping off a cliff. Let's not forget that BOD under wrote most of these CR's and collected their 5-6% risk bonus. Then there were so many shares (7 billion+) that shareholders had to accept bod decision to do a downsizing at a unbelievable scale of 50 shares to 1 share. My 2 million became 40,000 and were then worth a whole 10cps. Didn't take too long to further collapse again. Didn't we all take a bath there. Then just before we start making some money from our gas, we are advised our debt is too much and we are forced into administration. And behind the board's back a new entity basically picks up our AJQ company for a few million dollars. AJQ's CEO and Mather who was chairman. And through all this debacle DGR's Chairman, who is a business partner of the AJQ CEO, with Mather and his board of cohorts, give well over $20 million to AJQ on a non-secured basis. Mather then takes a huge expensive loan, costing nearly a million dollars to secure, so that he can make a bid for AJQ only to have the administrators reject his offer. Too late to withdraw the loan and DGR has to pay it back within 12 months. And,...... And then we learn that the AJQ chairman through one of his companies offers to buy 180 million DGR options for 3c in such a way that it will not be included in the maximum 15% cap that DGR could do a capital raising without all shareholders' vote and approval. Leaving the chance that DGR could do another 15% capital raising should it suit the board. Mather, as a board member of SOLG, knows that we have a few companies sniffing around SOLG and should one of them actually make an offer, guess who will make millions of dollars from these new options, dramatically reducing/diluting existing shareholders value accordingly. Not bad timing. Then, as I and an increasing number of other holders have stated Mather and DGR board will have total control as to how much will be returned to all DGR shareholders. Only a small amount was given to DGR shareholders who then saw the price of DGR shares plummet on the sale of Orbis. Mather holds 50 million SOLG shares and will make a fortune when sold......DGR holders on the other hand will only get a dividend as allowed and approved by DGR board, Could they be trusted to give all shareholders a fair share. I certainly wouldn't trust him and possibly a lot of you might now feel the same.
 
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