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0.1¢ classic minerals ltd

Ann: Notice of General Meeting/Proxy Form, page-107

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162 Posts.

44

12/07/24

18:49

Post #: 74732607
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Originally posted by bungalowbill: ↑

The model of a company issuing shares & then canceling them must be outlawed. Also outlawed should be multiple consolidations, say within a period of 5 years. This is to stop directors from living off consolidations. Some people put 30,000 dollars into this for 30 million shares. Then they watched the company cancel 99.983 % of their shares with 2 consolidations which reduced their shareholding number to 4000 worth $4.
The first consolidation was 150/1 and the second 12 months later was 50/1. If they held through both consolidations, their shareholding was reduced by a factor of 7500
It looks like the share capital has been expanded from the last consolidation from 250 million shares to approximately 1.3 billion. So the 4 dollars is probably notionally worth about a sixth, say around 66 cents pending a 50/1 consolidation. They have consolidated the shares previously around 1/50th for every billion shares

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and the scam show continues

CLZ Price at posting: 0.1¢ Sentiment: Sell Disclosure: Held
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