Where's the morality, page-19

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gonegassed

13,783 Posts.

18/06/14

15:30

Post #: 13540937
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Originally posted by Timbo68 ↑

When trading resumed on 13/6 after the previous TH, the SP went from a previous close of 4.2c to a high of 7c and a close of 5.9c when the next TH was announced. Over 160 million shares changed hands.
This spike can only be attributed to QBL's announcement (later determined to be not meeting several ASX standards). Because of this "faulty" announcement, Gleneagles was able to convert, and sell, a great number of shares, at a great profit. It was also able to redeliver "borrowed" shares, to Volcan - which is run by directors of QBL.
So, in a nutshell, QBL has been allowed to release to the market, an announcement which contained claims later to be deemed not sustainable by the ASX. Gleneagles, a close associate of QBL and Volcan, makes fantastic profits. A number of material claims in the original announcement are today rescinded, but those who profited from the "mistake", with a close association to the company, are allowed to keep these profits? Surely there is something a little bit wrong here????

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a big fat J..sh Scam ... on the the cattle ..sheep .. lambs .. pigeons.. whatever they call us suckers in Yiddish

QBL Price at posting: 2.4¢ Sentiment: None Disclosure: Not Held
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Where's the morality, page-19

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