An unfair situation MZI shareholders face is the huge dilution caused by the interest owed to RCF and paid in shares. This problem is being caused by a few shareholders dumping their piddly shares sending the share price to low levels. The next quarter share allocation for interest has the potential for RCF to get 50 to 60 million shares for $1 million interest. This also means that if the business is sold then the price per share will be very low giving RCF the biggest chance to recoup their money.
I'm currently overseas but I'm considering the possibility of contacting ASIC as well as the Australian Gov't Takeover Panel when I return.
It wouldn't be the first time that I've reported Rodney Baxter to ASIC, he was the CEO who withheld market sensitive information from ConsMin shareholders during a takeover bid.
I was threatened legally by ConsMin management to stop sending letters to shareholders to Vote NO.
If the MZI management weren't so incompetent you'd be excused for thinking the situation is deliberate.
MZI Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
