Assuming there are enough buyers. The only tangible asset is the $3.1m cash, which with 6.2bn shares on issue gives the company a minimum MC of 6.2bn X 0.1c = $6.2m, or twice its assets.
I'd expect them to do a consolidation, 100:1 would give a SP of 5c for MC = assets, or a 1,000:1 a more respectable 50c, taking it out of the penny spec range.
Ann: Prospectus, page-33
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Mkt cap ! $16.07M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 46 | 55096344 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 83118455 | 37 |
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