Guys, unfortunately you'll be waiting a long long time for this one to get off the floor. Absolute right off and should have shut doors a long time ago.
Currently there are 4.6 BILLION shares quoted which values this company at $4.6million. There is no way in hell this company is worth that and currently the price can't go lower (unless the ASX want to start allowing trading at .01 of a cent). The latest capital raising of 1.2billion (post tranche 2) shares has been bought at a price that you couldn't even trade at if you wanted. Taylor Collison could sell at this price and triple their money without even trying (if there were any buyers lol).
Post 200:1 consolidation, watch the share price head south again till it reaches it's true value. At a guess I'd say it'll at least half (and that's being optimistic) as there has been no trading for sometime (ie- no one can sell ie- no buyers) and funds have been constantly chewed up in the meantime along with constant CR's bloating up share dilution (I'm not even going to go into the 18.5million shares that FLE will end up with afterwards).
If you're holding from the NEX days, forget it. This share would have to hit about $20 post consolidation for you to get anything back if you bought around 10c. Considering the dilution over the years and with the acquisition of FLE halving that again you're better off starting all over again. This company has been plagued for too long and even if current management are any good, something's bound to go wrong.
There's better fish in the sea imo.
NUW Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
