Jimmy...AKK can decide what price to base its capital raising at. To give 16,000,000 shares at 4 cents is an absolute joke. For all we know they've allotted the shares to themselves in various companies, family trusts, mates, etc. As a result:
1) Dilution of shares - I'm sure it will be significant given that you could raise the same amount at shares allotted at the gift price (32 cents x 2,000,000 = 640K) 2) Ability for these "investors" to flip the shares once they make the final payment. 3) $640K is hardly going to pay for the bills. As a result there may be further capital raising? This depends on AKK's ability to be profitable in the current environment and if oil continues to slide. 4) Flow rates??? 5) Who is this new director? Probably Kenny's mate. 6) I'm sure that their wages will now recommence which means they're not concerned on the above mentioned points.
The "gift" makes this look like they're taking the piss out of us! My comments are fare given what we have all been through. You all need to think seriously about what they have done to us all. Simply saying that there is nothing we can do is incorrect.
TW
AKK Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
