ASIC has now made it harder and more expensive for them to raise capital after ASIC found they breached disclosure obligations in regards to the farcical Billion dollar funding announcement.
I suspect this is the nail in the coffin and even before this judgement they would have struggled to raise any more money.
They will soon be valued at Cash backing which was $1mil at end of June or 1/14 of current market cap.
Sorry to say for existing holders but this one will be closing the doors soon.
PDY Price at posting:
0.4¢ Sentiment: Sell Disclosure: Not Held
