I was critical of the BLC Acquisition and the FMG acquisition (actually, of their penchant for M&A's in general).
From memory, the BLC business had been operating for 30 years without ever turning a profit - then suddenly a $500k profit appeared immediately prior to the acquisition by AN1. And how much of AN1's cash was vacuumed as part of the sale process? Pretty much the same MO went down for the FMG acquisition and that has turned out to be a dud in the same manner.
What is currently unfolding was always going to happen, it was just a matter of when. Interestingly, the Board only did what they should have done once the Auditors twigged...
The lesson is, forget about the Microcaps. They are only there to hoover up the loose change washing around the stock market.
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.481M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2276000 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 207362 | 1 |
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| Last trade - 16.30pm 29/07/2025 (20 minute delay) ? |
| AN1 (ASX) Chart |
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