"sorry I am not too familiar with the whole split thing," ............yes well that is one of the problems. I assume you are relatively a "newbie" at punting on the share market and are in the process of learning a valuable lesson the hard way.
The problem is that when you purchased your 100K JAV shares I presume it was when they were being traded at $0.001. ( or 1/10th of a cent ) which is the lowest price that a share can reach legally on the ASX. That has nothing to do with whether the company has enough assets or value to support that price per share given the number of shares that it has on issue. In the case of JAV the market did not place any great value on any of the "assets" that the company might have laid claim to. They had rights to tenements but had nothing substantial to show in those tenements. So the simple truth is that a JAV share was not really worth $0.001 but that was the lowest price allowed for the company to trade on the ASX. It is up to an investor to do due diligence and to recognize what the true worth of the company is, especially when you are dealing with a very speculative stock that has such a low share price. It may be a bitter pill to swallow at the moment but that is the harsh reality and a reminder to DYOR You just have to hope that you get lucky in 2024 or 2025 or whenever in the future that JAV finds something that gets the market excited and the share price of the new consolidated shares rises up to say $0.05 and then you might be smiling Good luck. I hope that has helped to make it clear that it is perfectly legal but the onus is on you to be fully aware and informed about what you are doing.
JAV Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
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