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Ann: Section 708A Cleansing Notice and Appendix 2A, page-69

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Salubrious

6,643 Posts.

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13/09/20

11:46

Post #: 47299928
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Originally posted by BigWill2018: ↑

Maybe that’s a way to stop the alto agreement is just to get the SP to 0.1c.

I know you can’t round down but you can always add more.

eg $100,000 = 100M shares but to give a 15% ‘discount’ you could technically give them an additional 15M shares or total of 115M.

However the issue becomes then also trying to sell these shares as Alto cannot hold more than 4.99% so someone would need to be picking up these 115M shares on a regular basis as Alto are getting a fill of shares every couple of weeks.

Guess it isn’t an issue yet as they haven’t hit 0.1c IIRC the lowest was 0.4c or 0.5c so still a bit of pressure and as it gets lower the pips become more valuable it is just making sure you aren’t holding when the next lot of shares are issued as it makes it harder to get that pip.

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I don't see the issue with the agreement, they should just put the cash aside in USD to pay it out and be done with it, thought that was the purpose of the CR and they raised enough extra for working capital one would think.
Maybe there's been something unforeseen since the CR to explain the shares being issued, but I doubt it!

EN1 Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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