Now we know why this has been churn traded down to zero value.
Someone appears to have been working in the background for this outcome and is now about to pick up all the assets for a song in a firesale. Looks like we can be sure the capital raising will fail. Maybe they will even call it off now the SP is 2c and place the company in a permanent halt to avoid trading while insolvent? Maybe they it can be 'recapitalized' by the interested party at 1 tenth of a cent for a billion shares? Or maybe the assets and liabilities can simply be sold for a dollar?
CMC Price at posting:
2.0¢ Sentiment: None Disclosure: Held
