Let’s recap this one because it seems like retail shareholders...

Let’s recap this one because it seems like retail shareholders are being taken for a ride here.

SHs have until tomorrow Thursday to sell out of this one before getting potentially slugged with a substantial bill for your holdings (reverse dividend). If you don’t or cannot pay then someone else will take those cheap shares and see your holdings diluted at 69cents per share. Imagine the bloke holding 100k
shares having to stump up $31k not an insignificant sum. If you do buy in to the offer there remains a load of risks that can still sink the boat.

Honestly this deal is sub par for retail holders. A much better deal could be getting a bank loan or loan of some sort to tide over the company. Or at the very least make this a renounceable rights offering to allow trading in options.