Well, someone had to back this gem in the comp!
Interesting to note that the Prospectus Extension has now concluded (14/11) so no further shares can be placed at 1c in that manner. That seems to imply they are confident on a major investor being over the line to fund their foray into, most likely, a tech acquisition.
Incidentally, they placed 33,976,530 FPOs since the Sept Qtr, so total cash position is currently: $425,765 ($86k + $339,765 from the placement). That's actually quite a significant raising for a shell and caught me by surprise when I added the 3Bs up. It's also plenty of working capital to run on while they negotiate the next phase of the company.
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