IDC indochine mining limited

Yep, unfortunately it's now a game of MASS DILUTION (destroying...

  1. 1,260 Posts.
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    Yep, unfortunately it's now a game of MASS DILUTION (destroying LT shareholder value) just to keep the wolves at bay. Today almost 6% of the company's total scrip was quietly issued just to pay creditors and to raise $500k to keep the doors open for a couple of months. Imagine what the scrip could look like if the company raises another $10-$20 million (assuming the EL is renewed of course) at the same price. 1c is the benchmark now, who now wants or needs to pay more for a slice of the Indochine pie?
    $10,000,000 / $0.01 = 1,000,000,000 new shares, almost double the current and already blown out scrip from 2014 in particular (as a result of the complete and utter incompetence demonstrated by IDC's former board and management IMO).

    I hope those responsible from IPO to mid 2014 are sleeping comfortably knowing that this is the legacy they leave and will be remembered for from now until their dying days. Absolutely disgraceful IMO.

    Never forget.
 
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