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FERGUSG

650 Posts.

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23/10/18

13:22

Post #: 36224540
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Originally posted by Rob1000: ↑

Hi Bt

I had read that and been to busy to work out if it is legal to issues shares with out cleared funds.
But even if it is, the ASX release on the 9th of Jan said
"the Company has completed a private placement of 30,000,000 fully paid ordinary shares at $0.01 each to raise $300,000."

So I am not sure how anyone could conclude that the issued shares had not been paid.

Forget about talking to the company. If I was a shareholder I would be sending it to the ASX and asking for a please explain and also adding that the second placement was released to the market on 31 July but was issued at some time before June 30.

Expand

It says there are several hundreds of thousands of dollars in "Other receivables" associated with share issues...which means the cash hasn't been received. It absolutely is not normal.

APG Price at posting: 0.1¢ Sentiment: Hold Disclosure: Held
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