HALO Public Offer Valuation, page-114

AAIG shares are listed in the registry at 19.6c. There are no buyers of course at this price so the value is whatever you want to say it is. People have wised up.
Capital raises were conducted at 27c and 32c and potentially other prices as they have done a few fund raises. AAIG registry share price of 27c was adjusted to 19.6c when AAIG shareholders were required to accept shares in HAL float. (more on that below).

AAIG had a deed promising 35c when AAIG floated "in the medium term" along with options (ie. a locked in profit when AAIG floated for shareholders funded by further depleting the value of AAIG if the share price dropped -circular reference anyone?). This it seems was just to entice suckers investors and seems unlikely that there was ever any intention to float.
ASRW Advisors received commission by getting people to invest in AAIG capital raises. I woke up one day never having invested in "corporate finance" and being an Australian Stock Report (ASR) subscriber was cold called and became an AAIG shareholder.
But in defence of my decision, the Information Memorandum provided with the capital raise contained glowing metrics and the Advisor did speak in glowing terms. It turns out that some of the highlighted metrics were junk. Eg. Funds Under Advice was derived from information pulled out of Halo a program that users can input whatever they like. Erroneous portfolios, duplicated portfolios, leveraged portfolios and imagined portfolios. And surprisingly many (most?) of these portfolios were not even held in the Macrovue (Halo) broker system. So where did "advice" enter the metric terminology and what was the benefit to AAIG?

Instead of floating AAIG (with its liability if the share price dropped) HAL was floated with "founders and directors" selling their shares to AAIG shareholders for $1.20 before the float. Prudently the "founders and directors" received financial advice to do this and followed this advice as listed in the supplemental prospectus. This was a neat way of transferring money sucked into AAIG coffers by the high-pressure fund raises out of AAIG and into "founders and directors" pockets.

The ASR Wealth Advisors also received commissions to get investors into the HAL IPO. I received multiple phone calls and emails, which I ignored. But I had to suck up the HAL shares I was allocated even though I thought HAL IPO was significantly overpriced. HALO is a useful product, but with poor usability and no real way to capture value if people did not move their share holdings across to Macrovue (with it's comparatively high priced brokerage).

Anyway, I could go on all day about misleading information, hardcore selling techniques by ASRW Advisors and the way AAIG works. I'd recommend avoiding an ASR subscription in the first place and certainly not becoming an AAIG shareholder. There are much better and ethically run share advisory services around. And don't get me started on Domacom.