show of hands please, page-3

Oh, I had missed the ann released earlier today.

I see management are engaged in phase two of destroying shareholder wealth.
I see they have ceased to pretend shareholders will retain their capital with a huge pointless dilution at 1/10th of a cent to a private consortium. That will raise a massive $70k. Whoop de do. What a crock. Wonder if they are related to the dumper on the register.

"an initial raising constituting the issue of up to 70,000,000 shares at
an issue price of $0.001 each together with 140,000,000 free options
to acquire shares (with an exercise price $0.01 each and a 4 year
expiry from the date of issue) to raise $70,000;"

>>

Of course shareholders will be expected to lose half their shares in a 1:2 consolidation and then pay TEN TIMES the price for new shares.


Now I ask you... What is the point. Why not fold it up as mismanaged, and let the directors do some jail time for misleading us. Or maybe that IS the point.