I bought into ANMNA on Friday and sold out today for small...

I bought into ANMNA on Friday and sold out today for small profit. Like many people have noticed there is a price descrepancy between the fpo and the des script, but after doing research on the weekend I have concluded holding ANMNA until the final DES guaranteed payment on 23rd Nov is too risky.

There are 399 mil fpo shares vs 660 mil of the DES. Therefore imho ANMNA should be treated as the main trading script.

Assuming plans announced on the 27th September go ahead they will be debt free and have $8 mil cash to focus on the AM technologies business. Since this business is unproven with no valuable assets or intellectual property of value, this company imho is only worth it's cash backing per share of $0.75c per share. ($8 mil / [399 mil ANM + 660 mil ANMNA]). Simply not worth is current SP of around 5 cents.

Personally I think there's a high risk of this company winding up in voluntary administration which is far worse than losing all your money since it takes ages before you can claim a tax loss. No doubt an ASX speeding ticket will be issued.

As always Please do your own research and seek pro advice.