AustSily only subscribed to $750,000 of fully paid ordinary shares to provide further working capital for Sundance. As have many other companies over the past 8 years. Each time raising working capital has further diluted sharholder value by adding (Billions) of additional shares onto the market.
All Sundance and AustSino have done is agreed to discuss and progress the project on an exclusive basis up to August 31st.... What does that mean? It means nothing other than they retain exclusive rights to discuss and progress the project, other than what has already been agreed between Sundance and Tidfore.....
What happens to after 31st August? My bet is further delays, no major announcements and no funding this year.
SDL Price at posting:
0.5¢ Sentiment: None Disclosure: Held
