There is one positive which can be extracted from this announcement .... now that the snouts are lining up at the trough it is the surest possible sign the SP is going up.
What an unmitigated display of greed.
10 million free shares to Simon Bird and 5 million to Michael Leu ... buy them on market ... Lord knows they are cheap enough
50 million free options .. exercise price of 0.006 .... in other words, since blind freddy can see these will soon be well in the money, management are taking advantage of existing shareholders.
But, wait. ... there's more.
250 million shares to go well below market price to GTT ventures [clearly they do not know how to spell vultures]
End result ... 35% dilution for existing shareholders for a maximum cash infusion of $800k.
Not one word in the resolutions about how retail shareholders might participate in this confetti shower of new shares to protect their own percentage ownership interest.
Ann: Notice of General Meeting/Proxy Form, page-2
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Last
10.5¢ |
Change
-0.010(8.70%) |
Mkt cap ! $14.51M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 11.5¢ | 10.5¢ | $9.276K | 82.39K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 25610 | 2 |
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| Last trade - 10.48am 29/04/2024 (20 minute delay) ? |
| SOC (ASX) Chart |