ETR 0.00% 0.7¢ entyr limited

Not the only one, page-51

  1. 21,752 Posts.
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    Firstly, the company has failed miserably by not including any "carrots" in this plan.
    There are absolutely no indications as to how they stand with their, currently, ONLY possible asset and the completion of A#5. Without that, they are expecting everyone to hope and pray that Texas suddenly has a gusher of oil that will put some positivity into the SP. But, nothing, so, without a guarantee that A5 is to be re-commenced and a firm programme with dates for Atzam, the ONLY way the SP can increase from available evidence, we can only continue to value the SP at NIL, or, .001 AT BEST.

    That makes a joke of most of the resolutions that are based upon the issue of shares and options (making them a laugh).
    My take on the voting is firmly based on the strong opinion that there is absolutely no need for a consolidation of the shares. It is not only unnecessary, but spells total disaster for existing holders, when the consolidated shares are re-listed at a "nominal" price of .10, which, will NO DOUBT drop back SIGNIFICANTLY, making it a total wipe out of any value that you might now hold (and at no buyer, seller .001, that is effectively worthless anyway).

    I don't think we have much choice re Resolution 1 as if that doesn't get up the company will probably be put into receivership by Range.
    Resolutions 2,4,5,6 are not worth the paper they are printed on and on current "valuation" of the company, with no specific definitive prospects of change, are effectively worthless anyway. A joke actually.
    No.8. They have to have dough, or, everything is academic. IF you still want to hold out any hope of even getting .001, I can't see you having any alternative but to approve No.8.

    No. 9 IS a problem. They keep saying that the lender will convert the debt to shares, but, in the same "explanation" say that that is legally impossible anyway. In any case, unless there is that same definitive prospect of improvement, NO lender would be stupid enough to take shares in this company instead of cash and THERE is the problem. Where do they find the cash necessary to repay that loan IF they take it up? I would be voting against No.9 and let them run a tight ship with the absolute necessity to get Atzam4 increased immediately and A5 into production ASAP.
    WITHOUT THOSE GUARANTEES, the bulk of those resolutions are a complete joke for all involved.

    Good bye, see you after 1 May, unless they see how stupid they look and come out with a pre-GM spelling out their work programme (if you believe that, but, believe them or not, they still have you by the short and curleys, because they HAVE to be re-listed before you can have ANY chance of getting anything back).
 
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