Not sure why they are wasting money spruiking an offer that is...

Not sure why they are wasting money spruiking an offer that is incomplete.

As part of the announcement, they made the following statement:

• a pro-rata distribution of Coda shares at a ratio to be confirmed - read that to be a share consolidation and I would be surprised if it is 1:1. Given they have not defined this ratio, and provided the "independent" report, how can anyone determine the value of this offer.

Also tell me why the new company (CODA) needs 5 Directors. What a cash bleed for zero value. We already have had 2 Ansteel Directors bleed GBG $84,000 per annum when the company has ZERO revenue. Now they plan to do it again?

Other issue that needs to be clarified - what happens to the GBG shareholder loan to Karara?

So spending money right now for telemarketing is a waste of money.