It was the ASIC prosecution that took the SP from 18c to 6c, reducing the market cap by about $50,000,000.
The ASIC prosecution was settled for about $500,000.
Go figure.
The company is in virtually the same fundamental position as it was when the SP was at 18c. It is just the market sentiment that has changed.
One positive announcement on financing negotiations would change the sentiment dramatically.
IMHO that is why people with inside knowledge of the ASIC settlement bought up big yesterday.
Then no doubt , some of the down rampers above picked up this morning at 7.4c, the down ramping did probably work to a degree. Now the nervous nellies hitting refresh don't know what to do!
It was the ASIC prosecution that took the SP from 18c to 6c,...
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