Yep....reverse investment - cash for shares. So, they inject minimal initial capital, drip feed the balance over a term BUT they still receive all their shares. For example, today's 3B stated they sold almost 20m shares, yet the 18mth agreement signed in Jan hasn't even turned 1 yr old yet. LIT have received approx only $2m in funds from Lanstead to date. HOWEVER, Lanstead have been able to recoup that from shareholders plus make a nice profit through selling their holdings ! Eg; 20m shares sold at ave 14c = $2.8m. At these figures an $800k approx return on their money OR 40% for less than the year. Not bad...and that's how they make their money. Very similar to a Bergen out of the US.
Again shareholders blindsided.
Great News, page-67
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Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $24.97M | |||
| Open | High | Low | Value | Volume |
| 1.9¢ | 2.0¢ | 1.9¢ | $19.98K | 1.051M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1013950 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 2882531 | 18 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| LIT (ASX) Chart |