Doesn't look like they are keen to see this company grow.
May be it's about getting those free shares, then hold it while it's held in escrow and then sell it before a TO or liquidation.
Even if they reduce gridcomm shares(<85m) and get rid off Austasia shares there's 110m performance shares and 10m advisor options waiting.
Total undiluted market cap at 20c/share will be- 53m
ODN shares(16m shares)- We only contribute 3m to the company's market cap at 20c a share.
Performance shares( 110m shares) are issued to Gridcomm/Austasia shareholders.
62,875,548 Performance Shares are issued to Michael Holt and Get2Volume.
I know that my opinion differs. But I think I am right. Gridcomm won't respond to any of the queries you send. They are not interested in you.
They get plenty of free shares.
Guess what... ODN directors are also shareholders of gridcomm(Austasia).
They are sneaky. Gridcomm shareholders and ODN directors have teamed up.
If you have an issue take it to the right people.
The victims are ODN shareholders and the new investors.
I suspect that the 21k raised is from the current ODN holders. If a potential investor reads the prospectus why would they even think of investing after seeing the numbers and the ploy.
2 mistakes:
1. Gridcomm is overvalued(pre-RTO)
2. Lets(gridcomm holders and directors of both companies) get rich quickly through ASX doesn't seem to be working.
What can they do?
- Reduce the number of Aquisition shares.
- Get rid of con notes.
- Reduce performance shares at least by half...
If they keep delaying this I don't mind creating a blog/website to spread awareness and possibly approach ASIC.
ODN Price at posting:
0.0¢ Sentiment: None Disclosure: Held
