Ok so I've got the AFR article on my wall now in front of me on Octanex and am ready to to load up on the listing day, however reading the prospectus two things strike me as very weird:
1. It seems only 1 mill x .30 shares are being listed = $ 300K. If that's the case, this is a tiny amount of shares for us punters to be playing pass the parcel with and if that is the case would be a deciding factor in me going all-in. This assumes the large holders with the remainder don't trade their shares initially and cash-in which would be highly unlikely in theory (namely uncle Geoff-the guy who seems to be the oracle in all of this MEO/MOG/CUE/OXX ect)
Sorry in advance if that turns out to be a dumb statement in that that is not the amount of shares to be listed/traded. (That was just my first take on it.)
2. They say they are offering it @ .30 in prospectus but then when putting a value on the company (see page 13 on link below!!!) refer to a market cap of 177,428,104 shares x $.20 CPS = $35,485,620 ...WTF!?
Perhaps they are just using 20 cents a share as an indicative or example market cap as it's an easier number to quantify or makes their market cap look smaller or god knows, but I'd love to find the answer to this.
Maybe one of you enterprising chaps who trade for a living (and thus have more time than me) could find it in your heart to attempt to contact or email the mighty Geoff Albers or his company and attempt to find the answers to these two seemingly very strange questions.
Oh and here's the link for the prospectus:
http://www.nsxa.com.au/ftp/news/021721940.PDF
(That page 13 is particularly relevant.)
Cheers
GenY
OXX Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Not Held
