and now for the bad news

Ok, so it was a good day on the market for MUI holders.

Now for the bad news, and sorry to holders.

This is all public information, and already announced which many may be aware of. Ive seen some things in my time but this is quite up their with the best.

Just last week, MUI had a general meeting which approved the issue of some new shares for a capital raising. It comes in four parts.

First is an issue of 250 million shares for an issue price of 1c to raise up to $2.5m. Thats not too bad given recent trading price. So that takes listed shares up to about 620million.

Second is an issue of up to 210 million shares for an issue price of .0001c per share to raise just $21,000. No thats not a misprint, its 210 million shares for 21 thousand dollars. Do i hear the word bargain? Now we are up to 830 million shares on issue

Third is an issue of 210 million options which are issued to the buyers in the second tranche. So for buyers at .0001c per share, they get a FREE attaching option. This issue raises nothing for the company and puts shares on issue at a possible 1,040,000,000 (billion). I cant see what the ex price is.

Fourth is an issue of shares to raise up to $5 million for an issue price to be determined over the next 3 months based on a 80% average price of the previous 5 trading days. Based on todays close, that would be about 312 million shares, adding to a possible listed total of 1,352,000,000 shares on issue.

So who gets the shares? That will be determined by the company directors but will be to people not related to the directors.

So within three months this company goes from 370 million shares on issue, to a whole billion more. If that second issue of shares at .0001 cents with free option doesnt make your hair stand on end, nothing will.