"Following the completion of the Rights Issue, the Company will have a total of approximately 3,427,547,490 Shares on issue."
And to think just over a year ago they had about 500m shares on issue. What an embarrassment and an absolute disgrace how much they have diluted investors wealth, especially over the past twelve months.
All the while paying himself an exorbitant salary and bonuses at a time when the company posted a 10m loss and financially on its knees, shows nothing but utter contempt towards investors. Will directors take another bonus from this CR? Ridiculous.
Rights Issue will be a complete disaster, they don't have a chance of even raising a penny close to 2m let alone 5m. Market has had enough and the game is up.
And to think only this time last year the SP was suppose to be 10c by xmas and it was blue skies after the CR in Oct 2013. Oh but never mind all that, I see FB likes are up to 90,000
