trading halt

MMX supporters are gloating in the anticipation of the demise of CHM simply because it has requested a trading halt which is a standard activity for any number of reasons, the most likely being the outcome of the Share Purchase Plan and action to address any shortfall in fund raising.

With the current market turmoil and with the CHM sp being about 50% below the offer price of 2.7c, I would expect that few share holders put their hands in their pocket (most being empty by now). Accordingly, there will be a need to secure funding by some other means. The only likely source of funding in the current market place for such a high risk venture would be from the original parties who funded the relisting of CHM.

With CHM having provided current share holders with the opportunity to participate in fund raising there can be little reason to whinge about a share placement to "professional and sophisticated investors" on very generous terms in respect to price and options.

While I could be wrong, with only weeks away from getting trial dates for both litigation cases I doubt that the backers of the CHM relisting will fold for the sake of a $2M when the jackpot is worth $100Ms to them.