Yes business as usual. The securities just cant be traded freely on the ASX. The shares could be suspended from trading for months but still be able to carry on business.
In all seriousness this AXIS loan is not new news to the market, it has been known and disclosed in prior annual reports. It is just current investigations by ASX due to late annual report has revealed how frivolous and negligent directors have been in regards to loaning out shareholders money in prior years. Current SP should have already allowed for this.
It is a double edged sword because Merlin is relying on funding via convertible notes from Gutnick related entities during this development stage, so what are we mear shareholders to think... cut off the hand who feeds us or keep being raped?
Merlin Shareholders walk up to Diamond Jo and ask "Papa, we need our $14,000,000 dollars returned." Diamond Joe says "ten million?! I don't have 5 million dollars! What do you need 2 million dollars for? Here's $500,000." He writes a cheque for five thousand and says "split it amongst you all ...and bring back the change."
MED Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
