Courting investors PERTH-BASED mining minnow CityView Corporation has been on the radar of many in recent months - most notably the corporate plod.
The coal and gold explorer, which trades at a fraction of a cent, has issued a prospectus to raise a paltry $1.2 million to stay alive. Page five of the prospectus reveals ''key risks'', and makes for some rather unfortunate reading.
Under the heading ''ASIC determinations and investigations'' it is revealed that the company is being investigated for several breaches of the law, including ''fraud by company directors as to accounts'', ''fraudulent falsification of records'', ''prohibited conduct by a person in possession of inside information'', ''market misconduct'' and a lack of disclosure over substantial holders, among several other notices.
One assumes the $1.2 million is going on legal fees.
CVI Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
