CCC continental coal limited

i'm voting no to all but was moderated

  1. 625 Posts.
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    My post titled VOTE NO was moderated as follows

    "This post has been moderated on 13/03/13 14:50 (Unlicensed Advice)
    Comments: I will moderate your post on the basis of unlicenced advice but consider yourself lucky as HC has zero tolerance for defamation and you have walked a fine line in that regard. You may repost your OPINION in regards to voting but also be VERY careful in regards to comments you make about directors"

    So to give detail with little comment and note:

    Every comment posted here could be construed to be "unlicenced advice" and facts re price and quantity of issues to directors are for you to read on the ASX... I make NO COMMENT as any adjective or adverb is taken to represent an opinion and we can write facts only.

    Re Resolutions

    1. Convertible note deed taken on 21/08/2012.
    Oracle issued approx 50 million shares at approx 3.6cents for the $1.8million on Oracle's request to convert.
    If ratified this will allow the company to issue 15% of the now increased number of shares.

    2. 30/11/2012 $850,000 note with Baycrest with redemption 30/04/2013. Fee paid 2mill shares + 6mill opts 5yr term at approx 0.0572 cents per share.

    Now that's a 5 month loan payable monthly (from month 2) at $212,500 per month. Interest of $17,465.75 calculates to be approx 7% PLUS 2mill shares at 5c worth $100,000 PLUS OPTIONS ...

    A share issue of 2million shares at 4 cents would have raised enough to borrow $800,000 at 10% for 1 year

    3. 19.9% to a cornerstone investor.
    TO WHOM and at WHAT PRICE?
    At a large premium for control?

    5-9 Director issues.
    The value attributed to these shares is 10cents per share.
 
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