Forget anything about a $1.5M cost of the capital raising. That's chicken feed compared to the long term damage to MCE's value by such a massive dilution. Management has alot to answer for this one. Will they end up destroying the company over the next year or two? If the current incompetence keeps up I think it's on the cards. I think ASIC also needs to investigate the MCE directors. One conveniently sold old just in time before the bad news was announced to the market.
MCE Price at posting:
$1.86 Sentiment: ST Sell Disclosure: Held
