Thanks for bringing that to my attention Autosime. $70 million in tax losses carried forward means AKK is worth about $25 million dollars to any oil/gas explorer /producer without counting its' other assets. That means the share price (excluding assets) should be 2.8c . Put in plain language ,should a profit making petroleum company pay 2.8c per share they would be getting the oil field plus other assets for free. As for spending 1.5 million in the next 2 months .... what would you have them do???? It's an oil exploration and production company, they turn their 1.5 million into 2 oil wells, these wells will then produce oil, AKK will then sell this oil for (imho) a hell of a lot more than 1.5 million. It's the same as farming, the farmer spends money to plant his crop, then he sells it, always hopefully for more than it cost him. That's business. By the way, are you living in a cloister??
AKK Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held