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Ann: Voulntary suspension, page-116

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9,253 Posts.

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08/02/23

09:29

Post #: 66129755
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Originally posted by mrspeculator: ↑

The answer John1933 seems to rest with A H Meydan. He's the primary creditor and director. If you follow the dots carefully, OPY issued the quarterly report and Appendix 4C AFTER market Jan 31, so nobody could trade out. They sensed it was a bad report card. Meydan would have made a call stating he was no longer committing to further funds due to what appeared to be rolling quarters of high cash burn. Shareholders never stood a chance. Last Tuesday 1600 AEDST was the final chance to get out. The trading halt early next morning was more a coffin-sealing ceremony rather than a chance to exit with some dignity.
They thought they had further funding until the financier stopped buying their Disallowed.
It's only ever been a disaster, better seen in hindsight rather than from its lofty highs.

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Disallowed burns bad.
Lots of shareholders would be feeling it.

OPY Price at posting: 19.5¢ Sentiment: None Disclosure: Held
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