Alpha there is an investigation on although information regarding this is hard to get. I think the authorities here have too often used the excuse "we didn't know" this time they do. They won't be able to let it drift away.
Having said all that the placement may happen, may not. It would seem the company is undervalued and is doing quite well. But that is not the point regarding the placement, they have handled it very poorly.
I can't see how they would continue with this line if it's bull knowing the ASX are investigating. The trading in Feb and March prior to the announcement is also being looked into. We investors should not be taken for a ride and it's no good saying bad luck because all of us would have been taken for a ride at some stage whether we knew or not.
Still at 4 or 5 cents the company seems to be very cheap, just need to get rid of the crooks. I would put the pressure on the ASX to do their job and act whether you own this stock or not, next week it will be another one.
SCE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
