Hi all and in particular AlbueraI am sorry but I don't agree I...

Hi all and in particular Albuera

I am sorry but I don't agree I dont think that this is logical

- on 19 February the reported that the c group had advanced $250,000
- on 12 March they raised $400,000. Those Sophs must really be wondering if they knew everything IMO.
- 16 april Investor day presentation - No mention of financial position of company.
- on 14 May they announced they raised $246221 from other Shareholders before the C Group.

In the offer to shareholders document it is stated:
"The Offer is not underwritten however the Copulos Group has agreed to support the Offer so that Intermoco raises at least $1.5m including the recent Placement under the Mandate to sophisticated investors and issue of convertible
notes.Shareholders also have the opportunity to apply for New Shares in addition to their Entitlement"

So if they raised $250k plus $400K plus $246K thats a total of almost $900K are the shareholders and Sophs not entitled to assume that the C group was obligated to make up the shortfall if it was stated by directors in the offer document? I am no attorney but I dont understand it.

This is one occassion that if I had money in this beyond my small insignificant holding I would get some info on this. If the C group put the $600k in then the company could not have blown all this by July.

The next time anyone suggests to me that by going to a presentation and talking to management and directors I would get a better picture I will refute that.

I would like to know what happened here because many approaches have been made to management and I have spoken to a few and boy oh boy even for me this does not make sense.

Then it could just be that its easier to acquire it out of administration than keep funding it this way - make it private and move on.

I do feel sorry for the holders and all the believers that kept on funding right up until the end.

Must say it is illogical for this company to raise $1,5m and blow it in 6 months after shrinking the business and a new MD. sort of feel like I am watching the political events of last week rather than reality.

To Albuera I did not invest in this business last year but invested in a medical company what a great decision. look at my posts you will see it there.