What the ASX is concerned about is that mgmt knew that the deal was done Friday May 31 yet choose to delay this significant Ann until Weds morning June 5. As you point out, there was heavy volume on Monday and Tuesday June 3 and June 4 with the price dropping from 11 cents to 8 cents. A 27% drop in two days. Hard to prove but the ASX is concerned that someone or persons leaked the upcoming bad news to their friends and or relatives over the weekend and mgmt withheld the release of the Ann for two days to give their friends or relatives time to dispose of shares in an orderly fashion.
MOY Price at posting:
9.0¢ Sentiment: Hold Disclosure: Not Held
