CORRECTED foe number of shares on issue OPNWow - the white flag...

CORRECTED foe number of shares on issue OPN

Wow - the white flag is being raised!

15% of the company flogged of at less than half a cent per share ( for $166,000) and then a further issue of at 0.4 cents to raise $3.2 million (works out to be 800 million shares by my reckoning). So looking at the current shares on issue at 277.7 million they will end up with 1,075,000,000 shares worth an MC of 5 million. Compare this when the company hit 30c with a market cap of over $70 million.

As I have been saying for a while the company is dead (and not quite buried) in Australia, now having only 91 properties for sale using the original "on line auction" approach. Revenue was less than 100k in the last quarter as well, so no one is paying them anything. Whether this works in Canada is anyone's guess!