Hi, JK, and welcome to the snake pit.
You have a bit of reading to do to catch up, so I will give you a few announcements to read.
NRZ_010_ASX Template FA 2"NRZ - NEURIZER LTD NeuRizer Announces Private Share Placement 11/05/2023 8:01AM NeuRizer announced that the Company has completed a private placement of A$1.0m at a share price of $0.07 per share with non-executive director Mr. Zhe Wang ("the Placement").
The Placement will result in the issue of 14.28m new FPO shares at an issue price of $0.07 per share to raise total proceeds of $1.0m. The issuance of 14.28m new shares will be subject to the Company obtaining shareholder approval as required under Listing Rule 10.11 at a general meeting to be held as soon as practicable."
Note that this shareholder approval did not happen as soon as possible. IMO. Should have been approved within a few weeks. They did however have the million dollars.Proposed issue of securities (asx.com.au)
Didn't happen as far as I can see at the time stated, but they still have the money. They have to gain approval before they can issue these shares. If they don't get approval, they will have to hand the money back within a certain time.
05s2th83dsfq6k.pdf (asx.com.au)
Private Share Placement to NeuRizer Non-Executive Director
NeuRizer announced (see ASX announcement 10 May 2023) that it had completed a placement of approximately 14.3 million shares to non-executive director Mr Zhe Wang, at a premium to the current share price at the time, for $0.07 per share, raising $1.0 million.05vy7kh3wbqm60.pdf (asx.com.au)AGM Notice
Read the full resolution.
05x61vpf4qv5ms.pdf (asx.com.au)
Ratified at AGM. All good.
Application for quotation of +securities (asx.com.au)NRZ_010_ASX Template FA 2It was all set in train in April 23. It's all over now. Please read the Cleansing Notice; it sums it all up. Good luck and don't let this stock sour the market for you.
(20min delay)