If ROS stuck to their original IPO everything would have been ok. You may not have got the run up to 35c shortly after listing but at least the shares would still be trading.
I think ROS fell foul of the ASX Rules/Regulations when they needed to raise 10 x their MC in funds so soon after listing.
My understanding is that under ASX rules there is a minimum amount of time that must pas been an IPO and future CR's.
Management also seem to have forgotten that raising such a huge amount of capital would dilute original holders considerably, yet it was these same shareholders who would need to vote the package through.
As we have discussed previously ROS now has no projects (except the Aust ops) and less than $1m in cash.
They have also gone quiet again and are yet to provide an up take on the legal proceedings (Re: Silver project) and if/when the company will re-list.
The best outcome for existing shareholders now (IMO) would be a reverse take over by another company that brings a real project with them. Obviously they will need to raise capital (diluting holders), but at least there will be a solid project attached. Everyone can then move on and forget about the previous managements pipedreams
ROS Price at posting:
35.0¢ Sentiment: Sell Disclosure: Not Held
