posted this on the 11th-Just noticed the 200 or so props of...

posted this on the 11th-
Just noticed the 200 or so props of approx 300k each that appear after open and removed before close each day are absent today,
props haven't worked so a new strategy maybe or getting close to taking out all the 1's??

In hindsight I would say that these props were placed by Lind in order to rope in more real buyers, so the number they dropped into the remaining bids would probably have been much higher if the numbers were there to buy, tough and has limited the draw down which as nathan points out their conversion is at a disc to vwap so they still are making money, very different to the majority of punters.

Convertible securities or notes or whatever other name these companies give to this style of funding is poison to the average shareholder who is omitted, I suppose if everyone is onto these which have more leverage then the SI's or crowds like Novus and Lind wouldn't partake,

The ASX Grand Casino - A special room for the select few high rollers, but with very different rules.

Having said that, I wonder how Novus and their elite few are faring now?
they may be saved by a 100:1 consolidation.