There seems to be a (justified) outpouring of anger at the proposal to grant options at no cost to Directors of the Company at the AGM. All very well, but what about Resolution 4 - Ratification of Allotment of Shares - 15 July 2009. This allotment of 30 million shares was made on 15 July 2009 at 1.5c. Thus it raised $450,000. The stated reason for the funds raised from the allotment was "for general working capital requirements".
As at 30 June 2009, the Company had Cash and cash equivalents of $1,712,106 ($1,681,442 cash at bank and $30,664 in deposits on call). Yet, a fortnight later, the Board purportedly saw an urgent need for an additional $450,000. Why?
The allotees were "sophisticated investors and clients of Claymore Capital Pty Ltd, Sydney (AFSL:261076) "Very" sophisticated in my opinion
At the closing price of BUY of 9.4c on Friday 30 October 2009, the value of the 30 million shares was $2,82 million. That's a profit of $2.37 million dollars on the investment.
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.743M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 4651212 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 10033335 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 4651212 | 0.004 |
26 | 21121033 | 0.003 |
12 | 13963444 | 0.002 |
5 | 7900000 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 10033335 | 15 |
0.006 | 4162131 | 10 |
0.007 | 2067001 | 5 |
0.008 | 1500000 | 2 |
0.009 | 1293820 | 5 |
Last trade - 16.12pm 05/09/2024 (20 minute delay) ? |
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