"The following information is provided in accordance with Listing Rule 3.10.5A and Listing Rule 7.1A.4(b) with reference to the Appendix 3B lodged by the Company on 13 February 2019 regarding the issue of a total of 16,125,000 ordinary shares upon conversion of existing loans totalling
$129,000 with non-related third parties of the Company (Placement), of which a total of 13,658,333 shares were issued without disclosure under Listing Rule 7.1A"
"Issued upon conversion of existing loans from non-related third parties at a deemed issue price of $0.008 per share."
Does anyone know who or which loan GMC had for $129,000?
It's a positive that this loan is paid off, but it's not so good that it was at an issue price of $0.008 - given GMC have previously been raising funds at $0.015 with the free options.
GMC now have 3,526,871,449 shares and
1,850,621,403 options that expire in April!!
GMC Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
