This letter, formally lodged with the ASX, is a disgrace. Stating shares available at 0.3c and no mention of the share consolidation that has already taken place. The effect of the consolidation means the shares applied for will actually cost $1.20 each. It makes it look like you can get shares for 0.3c when they are currently trading for approx $1. Thankfully the letter sent to shareholders does include this vital information.
This letter was obviously pre prepared a while ago for the raise and in the meantime somebody has decided to do a consolidation without waiting for the raise to be completed. Another example of the Board and management not managing the corporate entity properly. For some years now the company, in my opinion, does things that cause shareholder value to be destroyed. Either a lack of strategic ability or worse, designed to make it a bargain for new shareholders.
I hope the scientific research and application of it are far better. If it does what it could this product will save and extend lives. I truly hope it succeeds for the sake of those affected.
It would be nice if the corporate actions were successful as a mark of respect to the existing shareholders.
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