was in the middle of writing a response re the capital raisings of NIC / MMX at the time but to be honest its all too complicated and contradictory
a lot of what has been said in this thread does not agree to MMX's 30 June 2005 statutory accounts (which includes comparatives for 30 June 2004 year and lists out specific dates that capital raisings took place). in turn, the 2004 comparatives do not appear to agree with the June 04 quarterly year-to-date information in that it suggests far more money was raised up to June 04.
what i have taken from the information is that:
- MMX only had $41k in the bank at June 2004, so any money raised before then (eg Feb 04) was no longer in the bank
- some sort of raising(s) took place between 1 July 2004 and 29 December 2004. whether this has to do with CHM funny business is anyone's guess. shareholders equity from the public documents shows:
30 June 04 5,139,805 17 Sept 04 5,886,405 31 Dec 04 5,620,564 (excluding the winderfall 8m shares)
- the pro-forma balance sheet at 17 Sept has payables of only $500k more after the raising. i'm not sure if this is suggesting that the early cash payments had already been made?
disclosure: hold neither MMX or CHM, just observing as i think its an interesting corporate stoush
CHM Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
