what liability problem? I think you need to look further into the facts. You say my comment is "premature" and also "AGM results & imminent issue of rights that are significant (22% increase to SOI) and well and truly unrecognized by the market."
I completely disagree. The recent issue of shares in lieu of cash to creditors and their chairman (meeting 30 nov) for debts owing plus the proposed issue (meeting 4 Jan) to extinguish the sum owing to Allen all but wipes the majority of their liabilities except the disputed $1.2M owing to the JV. If they win that case they are pretty well debt free and without a significant number of shares on issue.
I think the market is well and truly recognizing the facts as they stand.
With the legal cases outstanding I can understand why the rights issue was not supported, I certainly wouldn't have supported it if I were a NME holder given the uncertainty but given the recent win I would not be surprised if support came out in droves if they win again at the JV contribution case.
I notice you don't go into the background on the continued raising by MCT to pay overinflated salaries and failed legal actions which has resulted in an eye watering number of SOI. Perhaps the market cap comparisons are accurate and are anticipating this to continue?
My original comment stands, MY CAPITAL would have been preserved far better had I bought NME rather than MCT - that is a fact.
I was a supporter of MCT and a critic of NME when I initially bought into this circus but as time has gone on and the MCT board refused to accept that their takeover had failed I, like many others on here now voicing their concerns, realised my mistake.
MCT Price at posting:
0.3¢ Sentiment: Sell Disclosure: Held
