Hooray
Someone with some brains
Whippa you are onto it man
This is the classic churn stock. This latest churn gives them a couple of ticks on their options.
No Cash
No Tangible Assets
High Market Cap
Heaps of paper
Captial raising must be imenent
However these guys did get $17.5million for one of the worst U floats of the last two years (Which GDN helped fund to get it up)
So what if they get approval to drill another water well.
The people who positioned themselves in the last placement have probably churned the lot out by now, so the options are either another quick cash up or a bottom draw long shot.
IMO only
DYOR
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