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SaintCat

7,415 Posts.

371

24/01/18

11:29

Post #: 30525658
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Originally posted by LizardKing ↑

1. Companies are allowed to buy shares in other companies, it happens all the time.
2. Don't know the details of this so can't comment.
3. Companies are allowed to loan money to other companies - again it is a common thing.
4. As per 1 above
5. There was a signed agreement and there was a factory. Both were badly done but they did exist therefore not fraudulent.
6. The comments may have been 'dodgy' but not fraudulent in the legal sense.

I'm not saying they haven't ripped off and misled investors - they have. I'm saying that, legally, there were proppants, the proppants were tested, they had a patent, they built two factories and they tried to sell the product. Therefore there isn't fraud. There has been massive incompetence and 'dodgy' (as you say) dealings along the way.

But ask yourself, seriously, did you really think that two guys with no engineering, mining or business qualifications and limited skills or experience in those areas were ever going to build a billion dollar technology company?

Yes the Directors acted irresponsibly and inappropriately and made a lot of money for themselves and their friends but why did people keep buying shares? People wanted to believe they were going to get massively rich off this company. Like they say 'caveat emptor'.

Expand

https://www.asx.com.au/asxpdf/20170313/pdf/43gr0hdlxxjhrw.pdf

Why do you think they put the black boxes over the items that show these test results were done by their own scientist?

Do you think it was just an admin error or an attempt to deceive the market?

LWP Price at posting: 0.1¢ Sentiment: None Disclosure: Not Held
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Future of LWP, page-12

Top Stories

Buxton projects new graphite province discovery at WA Narryer play

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

BCI reaches close of funding facility for salt-first part of Mardie project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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