Tannee, these are the facts that I believe you need to consider. It's been a nasty ride down the roller coaster, and right now, it looks as if the roller coaster has been pretty much shut down.
Facts: CVI cannot survive without regular funds coming in... ASIC have stepped in after seeing the action from all other placements in the last 18 months, where CVI 'friendlies' sold all the shares back on market at vastly reduced prices from what they 'supposedly' paid for them (strange in the first place, and of course none of us believed they'd really paid 10c when the share was trading at 4c for example) The ASIC restrictions (thank you) have placed some restrictions now becuase of the way past placements were carried out.
So - Who on earth would be prepared to hold CVI stock in escrow for 12 months, nobody, not even his mates in the UK have held on for 12 months so far. The last of the January placement is almost sold off now - not many to go.
The other way of course is, he does a full form prospectus, (which could take about 4 months).... and I doubt if he could get it finalised because it would need to be signed of by accountants, Geos and lawyers, no of whom I would imagine would risk their licences on CVI. It's quite likely anyway he will be broke in less than 4 months.
The other way of course is a straight out loan, but who would loan any money to CVI, what security could he offer? There is nothing - they'd look at the history. Anyone giving a loan would have to be considered questionable in todays financial climate!
Sell off leases? Well - they officially belong to Fortitude becasue of the disgusting way that was set up to disadvantage CVI shareholders.
So Tannee, you need to work out wha'ts happened, and what's likely to happen and take it from there. Do you get a really good tax break from a larger loss?
I don't know - everyone has a different position - but the last Annual Report with audit comments was the final nail for most.
Good luck - most of us are well through the 'getting over it' process, but still watching with interest from the sidelines and waiting for the next moves from either hte company or ASIC.
No sentiment any more - if you only have $500 worth it's negligible. If you have millions of shares perhaps there's more to rescue. Individual choices.
CVI Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
