SB2000, IMO it is unlikely that any major shareholder is going...

SB2000, IMO it is unlikely that any major shareholder is going to vote for this unless they are a member of, or will will benefit separately from 'the consortium', or face a possible alternative of jail or other duress.

Does anyone really think that valuing existing shares currently valued at ~3.5m based on last close; at ~$50k is a 'recapitalization' attempt. lol.


Lets see, if I vote for this I face a 99% loss of my capital. Geez thats a good deal. Better than lotto at least. And the horror of losing that extra 1% if it went into administration!.

At least with the latter, we are likely to get some forensic accounting thrown in, which IMO is worth the remaining $240k of my capital.

I opt for administration.

This is very similar to the attempted massive dilution of GOA's register for a two-bit project.

But I guess they will try to trot out some lipsticked pig project at the last minute to try to get it over the line.

Believe me - there are no decent projects left that are waiting for a shell reverse list. They all require multi-millions in development capital. I have been looking for one for over a year. It is unlikely 'the consortium' can deliver anything but a pump and dump.

But then that is all the ASX has become in the last few years. Most of the listings are failing companies run by incompetent teams.
All the well run, profitable companies don't bother to go public, as they don't need to loot the public for capital due to their proven track records.