On a positive note we haven’t heard anything more about the cap...

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aiken989

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03/09/18

18:40

Post #: 35384249
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On a positive note we haven’t heard anything more about the cap raising, hopefully figured a better option out or making plenty of money.

Good luck

Originally posted by D1326 ↑

That is great and please anyone who hasn't done so, lodge with ASIC as soon as you can. The more complaints they get the better.
It is the only way that we will ever know.....why they did not make provisions for the convertible note when they implied that they did
  why did they spend so much ($16m in 6 months) if they could not pay the $2.5m note
  why did they ignore the warnings of the auditor regarding payment of the note
  why have we not been updated about events if the revenue has slowed so much
  why did Jamie Cullen resign?
  what actually happened with negotiations with Squadron Resources ?.....why did they not want to be part of the company and as a result,Ian Gandel , our largest shareholder and represented by our other non independent director has now apparently taken over the loan . Most shareholders would have been happy to have had Andrew Forrest as a shareholder and it would have boosted the share price immensely. It seems very strange to many that the 2 non independent directors could not encourage him ( or make the offer encouraging) to be part of the company
  why have the 2 NON independent directors with many connections not been able to raise any sort of a loan and suddenly decided to not carry any trading debt but rather do a massively diluting CR when the company is actually in production and has already spent a large amount improving equipment etc. Why couldn't the company just carry a bit of debt a little longer as the company itself has predicted great things for 2019. IT DOESN"T MAKE ANY SENSE
  why has the board not engaged an independent Chairman when the wording of the company's constitution implies that (to achieve good corporate governance) the independent director should be the lead director and as we have only 3 directors normally ( at the moment only 2 and BOTH not independent) then the independent director should be Chairman
why suddenly are we doing this massively diluting capital raising @ .4 cents and a non renounceable 5 for 2 raising another 2.5 BILLION shares when most probably the majority of the shares will be taken up by the 2 NON INEPENDENT directors who by nature of being directors have inside information, already own a large amount of shares and have the money to participate. The shares are currently trading at .9 cents and in suspension. This will mean that for every 2 shares they already own they can then purchase 5. If you have inside information it is a great investment however as ordinary shareholders have been starved of information and maybe don't have the money and because the company is now not trusted possibly may not participate. Is this the actual intention of the 2 non independent directors....only an investigation can determine that

All of the above points to our non independent directors not acting in the best interests of shareholders, not acting faithfully, acting negligently (ignoring the warnings of the auditor), not abiding by the company's constitution and possibly not adhering to the disclosures rules of the ASX[/QUOTE

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CTL Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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On a positive note we haven’t heard anything more about the cap...

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On a positive note we haven’t heard anything more about the cap...

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