Putting together what you and JCD say, I don't remember that we were told how much money had actually been raised by the previous P1 prospectus - if any. If the money hadn't been handed back then I am sure there would have been a court case brought by ASIC and/or the subscribers to new shares. So I think things were ridgy-didge on that score.
As for how the money raised was to be used, my memory is that it was to be put into a series of diverse companies that seemed to have no obvious merits.
Mind you, those days seem a model of commonsense compared with the silliness currently shown on what purports to be P1's Facebook page.
I see that a comment by a Ben Wright on 17th Jan - asking about the status of shares held by GCN's shareholders - got an evasive (in fact a non) answer.
On a related matter, presumably Richard Li will inform us in the forthcoming quarterly about the current status of GCN's business relationship with P1.
GCN Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
