SWP 2.22% 22.0¢ swoop holdings limited

WE HAVE THE POWER, page-16

  1. 5,917 Posts.
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    You guys are being taken for a ride. Let's not beat around the bush. The company is trying to do a consolidation at the same time as a CR to make it confusing just how diluted your holding will become after the CR.

    I had to get out the calculator to work it out as they have done a great job concealing it. Existing holders currently own 100% of the company. After the CR, existing shareholders will own a paltry 9% of the company. Which holders in their right mind would support that?! Especially ones that have already had their holding dithered away by 4 CRs in 2.5 years.

    This is a company that has just stated that it now has operating costs of $100-110k/month with annualised sales of $3.12 based on the first 5 months of 2019. So in theory they should be cash flow positive almost $150k/month at that rate. Why the need for the CR? Something smells fishy and has for a long time with this company.

    Goodluck to holders!
 
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