This does not make any sense to me?
They say the conversion price is .038c
But for $2.5mil they issued 90,672,814 shares.
$2,500,000 ÷ 90,672,814 = 0.02757c ........so, issue price well under the .038c stated
But! They also paid $500,000 to have the shares converted at "0.038c"...what!
So effectively....
$2,000,000 ÷ 90,672,814 = 0.022c conversion price
Is this just another typical case of super dodgy ASX specie practice?
Hoping on the dumbness of shareholders to BS their way through?
Sentiment: trade
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