The maximum number of shares that will be issued under the SPP is 270,714,829. In the event that theSPP is oversubscribed, applicants will be scaled back on a pro-rata basis in a ratio proportionate with the applicant’s shareholding at the Record Date.The minimum raising that will be accepted under the SPP is 50,000,000 shares to raise $500,000.In the event that this minimum subscription amount is not achieved, application monies will be refunded in full (without interest) and the Directors will seek to appoint a Voluntary Administrator or wind the Company up whilst solvent.
They are seeking $2,707,148 They require a minimum of $500K to stay solvent or the "Threat" to SH is they will seek a VA to wind the company up.
Peter Nightingale should not be getting paid to do nothing, let alone Michelle Miller who has outsourced her role.
ASX need to stop this. Stop taking Mum and Dads money tompay for the lifestyle of these grubs
BIT Price at posting:
0.9¢ Sentiment: None Disclosure: Held
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