The company was late releasing the conversion notice again. Looks like there's another 20m or so shares to be converted in the current batch at 0.4c/0.5c. There's the option for an additional $1.1m in funding from Obsidian.
With all the conversions over the past year and the number of shares on issue, it's very likely that Obsidian were a sub holder but never reported the fact to the ASX. The heavy selling on 27 May suggests they had a substantial holding.
Would it be easier for them to make money off a sub $2m cap than allowing the price to run and risk higher conversions?
The company was late releasing the conversion notice again....
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.655M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.6¢ | 0.5¢ | $18.22K | 3.180M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 11366808 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 455503 | 3 |
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| Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
| IFG (ASX) Chart |