OK it appears the $500K payment from LANQI has not occured as yet - to be paid on completion of due diligence
The last quarterly said 2.5 quarters left of funding, and December is usually dead, so they don't expect the JV to close this month.
Are LANQI forcing a hand from MRG? Obviously MRG needed to go to the market. This DD is now also 5 weeks overdue.
I feel in future it may be better voting against all these ratifications and forcing MRG to go to shareholders using Rights Issues instead.
If we're going to be diluted, then we may as well also be the ones picking up the cheap shares.
Well lets see what this brings...
Ann: Trading Halt, page-8
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0.3¢ |
Change
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Mkt cap ! $8.134M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $300 | 100K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
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| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 22102270 | 13 |
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