The most important numbers are these: ExistingPlacement New total EQUITY: Issued capital94,678,2611,730,953 96,409,414
The current Market Cap on Commsec is $3 million, showing a current loss of over $90 million or over 90%.
For just $1 million, Mansour increases his hand from 166 million to 500 million shares, ie almost triples his holding from 11 percent to 28 per cent massively diluting (devaluing) our loss making holdings, whilst hugely lowering his average cost at our expense. Only ways to prevent this are for everyone to kick in $15,000 in the SPP or to vote against. I have only modest amounts to kick in and am only doing so with reluctance as the alternative, an investment in OBJ, is likely to produce a higher return in the short, medium and long term based on multiple products, hence less risky. Nevertheless I will be participating in the SPP to try and reduce the average cost of my holdings so there is a chance I may be able to get out eventually at a smaller loss and lick my wounds at an appropriate time
Apple Gadgets
Now here is a thought. Apple are a 755 Billion USD stock compared to our $3 million. Apple could open a new department called Apple Gadgets where they sell all manner of gadgets which are monitored by apps on their phones. These gadgets are designed by third parties who produce a prototype which Apple then manufatures and markets under a royalty deal. Win Win Win for the Gadget company, the consumer and Apple. There would be a few health monitoring gadgets for example, and of course our very own Pericoach could be one of the first on board. Apple know how to promote and sell and get people to want and demand their products so they will stand in line all night to be the first.
Amazon
This could be a great place to flog a million or six in the US alone.....
Proctor and Gamble
Already have a comfortable relationship with Australian company OBJ, using its technology in several brands. It will also be selling and distributing OBJ's own product, Body Guard / Knee Guard. They flog $85 billion a year and may regard other Aussie products favourably. You never know if you dont ask!
Those are a couple of ideas, perhaps you might also have a few ideas of getting this show on the road.... can't be any worse than managements methods of throwing money around like a drunken sailor...
It doesn't seem that long ago that the price was 5 cents. I did think about selling at the time. Should have done more than think! Lost about 90 percent of its price since then...
ALT Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held