If anyone remembers OGX forum I as username porkbarrel warned of the coming disaster. Spruikers were advising holders to subscribe to the capital raise even after they had been deceived and had lost a fortune. Many subscribed. Look at the outcome.
Personally I am warning any subscribers to this raise that the outcome will likely be no different.
ASIC don't have the manpower to investigate. When so many companies engage in misleading and deceptive conduct it becomes normalized.
Remember when ASX would prosecute market participants for talking up or down a stock in the media and publishing false and misleading articles? I don't, because it was before my time. The rules never changed, enforcement did.
Unless you are willing to expend the resources to literally hunt down indervidual directors and hold them accountable personally then investing in the ASX is not worth your time.
AUL Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
