Can someone explain this to a a noob/simpleton to me it looks...

Can someone explain this to a a noob/simpleton

to me it looks like they’re selling shares at a marked up amount to pay for the shares given to the director at a reduced amount


SECTION 1: DETAILS OF THE OFFER1.1 The OfferBy this Prospectus, the Company is making an offer to investors identified by the Directors for up to ten (10) Shares at $0.10 per Share to raise up to $1.00 (before expenses).All of the Shares issued under this Prospectus will rank equally with Shares on issue at the date of the Prospectus. Application Forms will only be provided by the Company to invited investors. All recipients of the Shares under the Offer will be sophisticated or professional investors (within the meaning of section 708(8) and 708(11) of the Corporations Act, respectively), however no Shares will be issued under the Offer to Directors, related parties of the Company or any other person if the issue would be in breach of the takeover prohibition in section 606 of the Corporations Act.The Offer is conditional upon the Company achieving the minimum level of subscription for the Offer as set out in section 1.3. Satisfaction of the minimum subscription is a requirement of the Offer being 10 Shares to raise approximately $1.00.1.2 Purpose of the ProspectusThe Company is seeking to raise only a nominal amount of $1.00 (before costs) under the Offer and accordingly, the purpose of this Prospectus is not to raise capital. The Directors intend to apply the proceeds from the Offer to expenses of the Offer.The primary purpose of this Prospectus is to remove any trading restrictions that may be attached to Shares issued by the Company on or prior to the Closing Date, including 66,666,667 Shares issued on 3 May 2021 at an issue price of $0.003 per Share to the Directors as approved by shareholders on 30 March 2021 (Director Shares).