FDM 0.00% 1.1¢ freedom oil and gas ltd

Ann: Voluntary Suspension Update, page-17

  1. 650 Posts.
    lightbulb Created with Sketch. 86
    Good points, Dad,
    But it could be even more byzantine: they are probably still waiting for flow rates from the new wells, which would determine not only cash flow but also the value of existing assets. Then there are the existing shareholders, whose position is probably determined by Australian law - FDM is Australian- so delisting may have consequences (forced bankruptcy, perhaps?). If Ramas have forked out for the completion works, what form did that come in?
    The rot set in when Howard Selzer (CFO) quit in 2017. He instigated the WF facility, but since then we have had Ramas, dodgy capital raisings, and financial smoke and mirrors.

    And why does anyone follow the OTC market?: it is unregulated, uninformed and the turnover is miniscule. Last months daily average volume was 17566 - well under $1000, although yesterday was big: $3720.16 !! A pokies machine would do better than that on a slow Tuesday.
 
watchlist Created with Sketch. Add FDM (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.