" I wonder how many suckers will take up the rights issue?"
You mean how many people are willing to pay for directors fees, CEOs wage etc all of which must be owing (only 44k left 4 months ago) Hopkins loan $602,000, has that been repaid? His worry beads should be starting to rattle. Martinos loan $75,000 was it? $ 30,000 alone in costs for the rights issue. related party transactions. The list goes on. 2 million - that will be gone before the ink drys. You'll notice they never give a monetary value on the interest owed on the Kopex debt, why? Well 15% of 3.6mill is over $10,000 per week. Where does this money come from, rights issues! CRs, convertible notes. It's not sustainable. Train wreck regrettably
The rights offer lists the current intention of how the funds raised are to be used. Pigs ass, this will be altered as soon as they get the money. See above.
The market won't cop garbage from this outfit any longer.
PZC Price at posting:
0.6¢ Sentiment: None Disclosure: Held
