The missing $3 million has been dealt with by a Deed of Company Arrangements and ASIC have followed on with criminal charges.
Thats a line in the sand.
The Liquidation turned back by creditors into an Administration left the company with the rights to pursue part 2 of its sorry history which is what went on between CHM and Nicu.
As MMX mantra has been all of this happened under the old CHM management. All new management has done is clear up past wrongs.
So CHM murky past has been in part dealt with through a Deed of Company Arrangements and now part 2 is playing out through the courts.
I am sure MMX has paid their listing fee's as they are back on the ASX. But when all this was going on they were suspended due to non payment of listing fee's.
Go back to ASX past announcements on yearly and half yearly for Weboz, Nicu and MMX. During the period in question the accounts dont seem to track through from when they were suspended to after they raise the funds.
I know they raised funds but that was after assets were secured.
On the issuing of paper if they could of they would of but the vendors wanted their $1.1 million in cash.
No cash no deal
CHM Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
