WML (ASX) WML-ASX

Originally posted by skyscraper99 ↑

Hello casa,
Not exactly sure what the question on 14 cents is but will cover a few points and if I have not covered it entirely ask and I will try to clarify.

The IPO was at 20 cents and last year there was seed raised at 14 cents, and again ARK raised seed at 14 cents to raised money for the IPO and legals for the change to WML.
In actual fact it was an RTO not an IPO which means reverse take over.
So ARK was used as a shell for reasons that cannot fully be disclosed here, but it was a business move to help get the listing over the line.

So yes the name change did happen, normally it would change before trading but there was a tight timeframe where ARK had to be relisted by a certain time or they would be struck off, a company that has been suspended for a certain amount of time, I think it is 3 years, are struck off. Some might have a better understanding of this but that is not the point at the present time.

Because ARK shareholders were stuck in a stock they could not trade for so long there was always going to be a certain amount of old ARK holders that were going to sell at any price, as many would have thought something is better than nothing.

Whoever sold you the shares, or encouraged you to buy in the IPO should have warned you of this possibility.
Secondly the sec should have known the above scenario and have advised you of such, but also he could have told you about the seed investors who bought at 14 cents and even at 15 or 16 could be selling at a small profit, a few there do not disclose actual facts.

So that is a reason/s why the shareprice has never traded at 20 cents so far in my opinion, with facts, facts that should have been relayed to you as an inexperienced trader.

Where to?
so far the company has not made a price sensitive announcement, the ones they have made are things that either have been in the works for a while like granted exploration license which would have been made well before listing as was native title.

A price sensitive announcement is one which a reasonable person would expect to have a material effect on the shareprice.
None have been announced yet or even a detailed work plan of exactly how they plan to spend some of the money on tenements to increase the value of the company and shareprice, in this regard they have so far been lacking, the money raised is part of yours so don't feel shy to ask them why they have made no progress so far.

They have projects including the ones they announced today which have a joint venture with Oz Minerals code OZL, so now the native title is settled they should be able to more accurately tell us when exploration will begin.

They have 8 lithium tenements that they have both exploration license and native title agreements so there is no hold ups or reasons in any way why they cannot proceed or tell you what and when they plan to do something on those, and they had these in place well before they listed, in fact some of them well over a year ago.

So I hope this helps and if you have any more questions do not hesitate to ask.

Expand

Hi (didn't see a name by which to address you)....the 14c was the price the shares opened at the day they were listed on ASX.
Actually no-one advised me to buy the shares. Because I was disgusted at the pittance my (small) savings were collecting in bank interest, I started to look at the share market and subscribed (free) to various companies, including one called On Market who were offering the IPOs . No mention of RTOs. As they appeared to be starting up (INITIAL) I assumed they would at least hold the offer price of 20c, until of course they flopped (and I would understandably lose, or succeed ,and I would gain.)
What I don't understand is why , I have seen no-one querying this (or I don't know where to look).
Have I any recourse to the co. offering the shares as IPO, rather than RTO?.
Thank you so much for your advice and time.

No.	Vol.	Price($)
42	37465653	0.2¢

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0.3¢	6002859	4

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6002859

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0.003	6002859	4
0.004	6341079	8
0.005	1626381	5
0.006	1325281	3
0.007	626667	7

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6002859

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6341079

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626667

(20min delay)
Last 0.3¢		Change 0.000(0.00%)		Mkt cap ! $3.654M

Open	High	Low	Value	Volume
0.3¢	0.3¢	0.3¢	$27	9.031K

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