Based on the closing price of $0.12 as at 25 February 2014 published by the Australian Securities Exchange, the number of shareholders with less than a marketable parcel is 770, holding in total 268,060 shares.
There are only 1061 shareholders, with three quarters unable to sell at current prices. Yes they are sitting on a pile of cash, and if they don't issue before May 22, it will be an opportunity missed to raise more.
How can a company based in the investment capital of the world not even write up a share placement in 12 months? Especially with Sinotrans and the Singapore broker coming on board with big cheque books.
With a few parcels sold in September of 175K and 156K and more recently 100K at 15 cents, it's not easy to see where another 100K will come from if some news eventuates.
RIS Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
