Ann: Suspension from Official Quotation, page-143

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Ryzie

3,795 Posts.

1980

21/02/18

19:42

Post #: 31234600
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Originally posted by ZMan ↑

Re: Would anyone care to share anything they are wanting the company to clarify?

I sent the company an email with questions about their quarterly reports. Specifically seeking clarification of thee various types of pipelines and the numbers in each. No reply. The lack of any reply, the vague language and the language changes between the last reports raises questions in my mind.

I would also like to see a clear description of the previous issues of shares at discounted prices, what services were provided, by who, when, and the normal commercial cost of those services. In addition we need to know what committments have been given to issue new shares in the future. It’s normal that any rights to share issues are described when those rights are given.

I can see how issuing shares at discounted prices could be a way to hide and lower the cost of expenses. I have no evidence the company is doing that and do not imply or suggest the company is doing that. But I also cannot explain why shares were issued for 11c recently when the shares have not traded at that price in the last 12 months. The company needs to make a full disclosure of the issuing of shares to avoid any doubts in or questions from share holders.

I sold recently at a small profit because of these unanswered questions.

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Great questions.

I emailed the company last week as well and got nothing back. I imagine they can say anything until the ASX aware has been answered.

I'm not 100% sure about all the share issues but there are a large amount listed in the AGM notice which says who got them. some were options as well.

Can't answer your question to the degree required though and I agree this needs clarification.

BIG Price at posting: $2.22 Sentiment: Buy Disclosure: Held
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