This is certainly a stock that stirs the punters. I am a shareholder but without any real optimism after the EGM and eyeing the 'management'. Firstly, and this may have been covered previously, I do not believe it possible to change the terms of a resolution at an EGM.Surely any change would need to be sent out again to shareholders who,often, had previously voted on, what became, an obsolete resolution. Secondly, as the $5m convertable was approved, this (on today's SP) would effectively lead to an issue of,what, another 600m plus shares ,on conversion.Add the SPP. SO, there will be over 3 BILLION shares,well over. The market cap(MC) at .08c is currently about $19m. So, should the shareprice get back to what I originally paid in 2008 of 38c, the MC would need to be around $4 Billion.Not possible of course and also not a great rationale exampled(there was much fewer shares then and we have had SPPs) But, even following some posters share price projections/hopes at 7c , the MC would need to be about $210m. Even at double the current price($0.16), the MC would be near $50m (after conversion and before SPP). Today's MC again was $19m. It's a very long bow....
GGP Price at posting:
0.8¢ Sentiment: None Disclosure: Held
