Not really manipulation.
They receive a 10% discount on the conversion of their notes, immediately sell their new stock for between the current market price - 0% discount, and 10% discount - their break even.
Let’s say their average sell is a 5% profit , then it results in a fall in market price of 5%.
Rise and repeat on the next tranche.
No manipulation or shorting necessary when your conversion price is set at a 10% discount to 20day VWAP.
They make 5% on $500,000 = $25,000 on each tranche.
Our share value drops 5% on each tranche.
If the notes had a set conversion price (say 4.5c), this wouldn’t be happening on each tranche.
Not really manipulation. They receive a 10% discount on the...
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Last
5.8¢ |
Change
-0.002(3.33%) |
Mkt cap ! $96.45M | |||
| Open | High | Low | Value | Volume |
| 6.0¢ | 6.1¢ | 5.8¢ | $301.1K | 5.094M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 2102126 | 5.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.9¢ | 91589 | 1 |
View Market Depth
| Last trade - 16.10pm 03/06/2024 (20 minute delay) ? |
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Last
5.9¢ |
Change
-0.002 ( 3.28 %) |
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| Open | High | Low | Volume | ||
| 6.0¢ | 6.1¢ | 5.8¢ | 2871610 | ||
| Last updated 15.56pm 03/06/2024 ? | |||||
| LKE (ASX) Chart |