I have no exposure here anymore (I have traded the stock a bit in the past) but somehow took interest in this story. I'll be blunt. SH's have been dealt an awful deal. The preferred shares will leave ex ASX SH with only residual value upon any exit. I also read that the convertible notes will be converted into preferred shares. Which I expected as there was no way those investors would accept any ordinary shares. And from then on, the new board can decide to issue new preferred shares at any time. ASX SH will get zero value in my opinion. It is very predatorial from Motive, but it is not their job to care about you. You'd think the CEO should care..., but he will carry on and even though his current shares are worthless, he will get attributed preferred shares from then on. Such a bad story for ASX investors who funded the operations of a foreign company for a little while, who spent the money and disappeared. Sorry for you guys.
SPT Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
