However this clearing of debt is going to wipe out existing shareholders equity. Wouldn't it be better to maintain a bit of debt and not do such a massive dilution. This is certainly not in the best interests of shareholders and their motives are very worrying. It seems that this and the last capital raising were done to dilute existing shareholders and bring in new ones who may not be so critical of them as they don't know the history of their failings and are not suspicious of their activities.
Gandel will be stumping up a huge amount but not a lot if he gets the whole show some day!
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
(20min delay)
