re fact checking I think the intention of comment was to list here there was already a block of shares available to trade, instead of issuing new shares in a float, to enable a minimum of liquidity of shares, ie they didn’t issue new shares to raise money but had a large block of shares to transfer to asx so asx listing is brought about by transferring shares not issuing new share which would dilute existing shareholders, that’s my view at this stage, unfortunately brought about by the passing of the original CEO, Which had been widely reported at the time
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