Should be a trade in this one here over the next week.
The company is converting notes into stock...my guess is probably 50 mill shares will come into trading if the shares are 2c. If they get the shares to 4c they will need to issue only another 25 mill shares. If they can artificially push the shares up to 6c they will only have to issue 16 mill shares.
Today looked like the first day of them artificially pushing the price up. If you buy now and sell before the last trading day of Feb I reckon there is easy money to be made.
I may be wrong but going on the history of this company and some of its directors it would not suprise me at all if they are up to this trick.
Once the notes are off their books I dont think AKW will have any debt left but will be just a shell.
They are trying to do a placement at 4.5c aswell...doubt they will pull this off.
Today they managed to fill the buy depth and push the stock up 60% straight away for around twelve thousand dollars.
Would be very intertesting to see who is doing the buying in this one and for the asx to investigate whether this is price manipulation. Might send off an email to the ASX for a please explain.
AKW Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
