i have no idea its currently a $3M shell at last share price...

i have no idea

its currently a $3M shell at last share price (however could easily be a $600K shell) with negative $272,465 in current assets, including $161,288 in cash and $178,890 in current payables, and is spending $16,000 per quarter

it appears a clean enough shell and, if it acquired a good project, it actually could recapitalise at the current share price; where raising $2M at 0.5 cents would value the shell at $5M. a $15M project would be a 2 bagger for new investors

otherwise if it recapitalised at 0.1 cent, the shell would be worth $2.6M and it would need to be a 5 bagger to reach $15M market, where i would recoup most of my 0.673 cent investment.

the annual report says: During the financial year the Company continued to review and perform due diligence on multiple new opportunities with the assistance of the company’s corporate advisors. To date none of these opportunities have moved to a signed term sheet stage, however, multiple possible transactions are under review. No salaries or payments have been made to directors since June 2019 as the board is cognisant of the Company’s cash position. Accordingly, the Directors believe that there are sufficient funds to meet the Company’s working capital requirements. The Directors consider the going concern basis of preparation to be appropriate based on forecast cash flows and have confidence in the Company’s ability to raise additional funds if required.