@Stevienex1... Agree, and it will not be the last placement, which means it will not be the last line to be wiped. Wonder how many shares they will issue at 0.3cents and 0.2cents... By my count there are still another 1.2B shares to be issued.... 0.1cent line might get wiped.
This all went to a vote at the GM. I am not sure why all the share holders on HotCopper are now complaining about the dilution and low price, you had the option to vote no. I voted no to all placements, attended the GM in person and saw for myself that no other shareholders had voted no. It was very clear that Greg Starr and his directors were going to place 4 x the existing issued shares to raise $6M. So the company market cap should be $8M, and that is what the management believe it is worth.
Feel sorry for the shareholders that did not understand this, voted yes, and are now upset.
Good news is. they have already placed 1.2B shares and 1B options, so we are half way through the pain. 1.2B to go!
KBL Price at posting:
0.4¢ Sentiment: Sell Disclosure: Held
