Just thought I would let prospective shareholders know that this company will soon have over 1 billion shares on issue.
At 1.8 cents the company will be capped at around $18 million with approximately $2.5 million in cash.
210 million shares have been issued recently at 0.0001 raising $21,000. Another 210 million options will be exercised between now and June raising another $21,000.
Therefore, these 420 million shares will have been issued for a total raising of $42,000. Effectively, the recipients of these recent placements will have 40% of the company.
Where on the ASX could anyone acquire 40% of the company for only $42,000?
I wish I could have been a recipient of shares at 0.0001.
Oh, lets not forget that the company may acquire a project(s) with the cash in their bank account ($2.5 million) and instantly it could be worth $20, $30 or even $40 million. Makes sense?
Anyway, prospective investors need to know this very basic information.
:) Nic
MUI Price at posting:
1.4¢ Sentiment: Sell Disclosure: Not Held
