Good points but are you not worried about the going concern...

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Mom88

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03/04/24

12:48

Post #: 73166778
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Originally posted by bedger: ↑

Lots of non-holders commentating and very few holders. The last traded price is not reflective of the issue of a ridiculous 10 for 1 dilution, and its price of course dependent on take up, but 30 cents vs the 2.9 cents rights price is a mighty tempted mark-up for share that should, being ex-entitlement, be theoretically trading at a par to the extra 10 for 1 existing.

Perhaps not quite the doom and gloom the commentators posting on here - the company management appalling undeniably - given the Vietnamese and Singapore approvals. Personally I will be reinjecting the money I made selling at okay levels cum-entitlement and also on the final days trading 500-900% rally in the rights entitlement.

To give you a clue if the new shares trade half the closing price (presuming the fools managing get the reporting done), they are worth fivefold their cost - not without considerable risk to all invested capital going to zero of course. What bedlam this end of the market. Strong arguments for stronger listing rules and serious amendments/floors in entitlement discounts in Australian Securities law.

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Good points but are you not worried about the going concern issue?

There is no positive spin out of this. Management are either incapable in capital markets strategy and hence it is where it is or this is an outright scam. If that is not the case then the company is in serious dire situation and will likely go into administration if they cannot raise the 3m. There will be a minimum figure they need to raise in order for auditors to sign off and auditors need to sign off the going concern part if they are to be reinstated. So this could be the end of the line for them.

just my observation and opinion of course. I wish well for shareholders and hope they are able to somehow overcome and trade again.

OSX Price at posting: 30.0¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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