for anyone thinking of buying into good old ESI, be very aware that the company itself is offering hundreds of millions of new shares to any and all comers at $0.006 per share by a never ending SPP run on their web site.
so why would anyone ever pay that amount on the market when you can get that price brokerage free from ESI itself?
this ensures that the market price of ESI can not go up from the half cent level it currently enjoys. which means the best it will do for a looooong time is hold even. more likely it will continue to go down. down to $0.001 to be precise. because that is as low as a stock can go on the asx.
if the online share sale ever gets fully placed (and it may take years unless the directors start buying) then by the time they are done there will be near on 1.5 billion pieces of confetti dressed up as shares on issue in this woofer.
if they want to raise any funds beyond that (and let's face it, they will have no choice) then they will to fire up the next convertible note master plan.
but you can't issue convertible notes in a sub half a cent stock because there is not enough space for the issuer to play SP games and make their dirty dough.
so they will have to do a minimum 10:1 capital reduction first.
in summary - on any rational analysis ESI is close to being the most unbuyable stock listed on the asx.
ESI Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
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