roll out the barrels, page-12

re: asic investigates share trades ... towie Hi Towie, I repeatedly posted warnings here at the time as HC's will remember as the numbers I was getting for HDRWMA/B were appalling ...

Just to refresh our memories ... HDRWMA was ramped (I/Vol an unheard of 165%) by Mac to $0.14 by 2 = $0.28 per HDR share which was travelling at $0.85 or so.

HDRWMA had a Strike of $0.75.

Millions were traded in the weeks just prior to the 'mates rates' placement at $0.70 ...

Mac had inside knowledge this would have seen the entire Warrant Issue expire 'OUT-OF-THE-MONEY' ... equalling zilcho for holders.

Mac then 'tanked' the I/Vol trapping HDRWMA holders in a no win situation and smugly bought them back for literally peanuts ... pocketing the difference as sleazy profits.

HDRWMB hasn't faired much better (I/Vol 120%) ... Strike $0.90 and Expiry 30/01/03 which holders now would think will have little chance of redeeming much ...

Mac was the only HDR Warrant Issuer and without any competition was able to act in any way it wanted ... and it did.

A lesson here for all ...

Cheers ...


This is only my view ... read the red stuff.