Anders just shows you do not read all the announcements, the CR was due to capital restructure which was one of the outcomes of the consolidation.
If the directors didn't know that by consolidating shares and doing a capital restructure outcome being that they would need to place $3m in a special bank account then they did not look into what they were doing correctly.
It was not a total guess on my behalf, look at a number of companies that consolidate only then to issue more shares either in a CR or a issue of shares to so call special shareholders.
So in my opinion the directors always planned to issue more shares, they tried to get the interest of overseas investors but this didn't happen, had they done this I doubt that the CR would have been offered to normal shareholders.
I always tell people to DYOR at the end of all my post and people need to make up there own mind.
I would say something like 75% od stock go down once a consolidation has taken place unless there is some benefit out of the consolidation and for MOY there was none
MOY Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
