Tcf, If you were invested or followed MBK back in 2011, this was...

Tcf, If you were invested or followed MBK back in 2011, this was when they did the IPO at 20cents per share. MBK was run by Ben Cooper, Ken Hunter and Ashley Hood. Secretary was Liz Hanrahan. These guys were a bunch of jokers that achieved nothing. Basically used the company as a their private piggy bank for salaries. I remember after 2 years of listing the share price went from 20cents to like 5 cents.

I remember in their IPO prospectus they had like 13m vendor and promoter shares, 6m Pre-IPO seed which were raised at 5ecnts and 10cents and 13m on IPO at 20cents. The market cap basing on 20cents was roughly $AU6m which is roughly what it is now. You could say that there has been a truckload of shares that has been issued but also a lot of wealth destruction. If you got in at the IPO level or followed the initial MBK management this would have been the case.

MBK now has an entire different board (with a lot more past credibility) and different direction altogether. I think they are using MBK as a shell to vend in a new project. Could be wrong.