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
6.7¢ |
Change
0.001(0.76%) |
Mkt cap ! $110.3M | |||
| Open | High | Low | Value | Volume |
| 6.7¢ | 6.8¢ | 6.6¢ | $147.1K | 2.206M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2068 | 7.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.2¢ | 49 | 1 |
View Market Depth
| Last trade - 15.59pm 22/05/2024 (20 minute delay) ? |
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Last
6.7¢ |
Change
0.001 ( 0.60 %) |
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| Open | High | Low | Volume | ||
| 6.8¢ | 6.8¢ | 6.6¢ | 331348 | ||
| Last updated 15.47pm 22/05/2024 ? | |||||
| LKE (ASX) Chart |