Last Thursday 14 September OZM, like CMO was struggling due to shortage of cash until announcing a new business acquisition on Friday 15 September. Both companies were trading at close to shell value.
CMO have been seeking a new project since at least June and I thought about what might happen if CMO follows a similar path to OZM.
Just like CMO, last week OZM was a low cap company running out of cash and trading close to shell value.· OZM were trading at $0.032 with 127m shares for market cap of 4m and down to just under $1m in cash.
· CMO were trading at $0.055 with 59m shares for a market cap of $3.2m with less cash.
Just prior to releasing news of a new acquisition OZM were $0.032 with a market cap of $4m on Thursday 14 September and immediately following the news hit a high of $0.12 or market cap of $15m on Friday 15 September.
If CMO were to follow the same path they would need to move from $0.055 to an immediate high of $0.25 to achieve a similar market cap of $15m.After the weekend, OZM halted to announce a $2.5m CR at $0.075 (at a market cap of $9.5m) and then resumed trading at $0.11 today (market cap $14m).
If CMO were to follow the same path they would halt at $0.25 and CR at $0.155 and resume trading at $0.23.
As was the case with OZM, you won’t get a warning.
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2.8¢ |
Change
-0.001(3.45%) |
Mkt cap ! $3.624M |
Open | High | Low | Value | Volume |
2.9¢ | 2.9¢ | 2.8¢ | $4.984K | 175.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 40000 | 2.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.2¢ | 30300 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 40000 | 0.025 |
1 | 225000 | 0.024 |
1 | 58882 | 0.017 |
1 | 187560 | 0.016 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.032 | 30300 | 1 |
0.033 | 16960 | 1 |
0.034 | 60000 | 1 |
0.035 | 34240 | 2 |
0.038 | 48339 | 1 |
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