Unless I'm mistaken, they were paid fees for an underwriting agreement and have missed the disclosed deadlines for contributing $1.5M of funds
They were supposed to purchase 30M options with a 20c strike for 5c each - laughable yes !
They now continue to raise funds at a substantial discount to the underwriting price, yet have not mentioned return of fees or cancelation of the agreement
Stock being issued at 5c with 5c strike options being given as freebies !
No wonder it is 0.1c bid
Perhaps an email to ASX and ASIC to seek clarity on why those funds never appeared yet fees were accepted
SPB Price at posting:
4.5¢ Sentiment: Sell Disclosure: Not Held
