The initial float was at 25 cents Then another float at 20 cents I am not sure but there might have been a float at 5 cents Then a float at 2 cents then I think another float at 1.5 cents Every time the dilution was around possibly 50% possibly not including between the 25 cent and the 20 cent float. They were supposed to be making money to pay for everything possibly around 18 months ago, but if my memory serves me well, they couldn't sell the pearls. The flow of information out of the company has bee minimal. Going by todays statement it appears that something serious is wrong with the bookkeeping. Sounds like a big bit of money just got up and walked out the door. To get into an Aborigonal reserve you need permission of the local Aboragonies, meaning they are behind closed doors. That type of dilution with only the directors knowing what is going on is something I do not like.
What sort of a normal person thinks the above is a good way to to run a company.
O and I forgot they found their origonal shareholders in the clients of Charted Accountants.
I am not saying the above facts are completely correct, for the full picture go to the Companies web site.
APB Price at posting:
1.0¢ Sentiment: None Disclosure: Held
