Assuming the listing fees get paid then - as there is now a DOCA (Deed Of Company Arrangement)...
CMY will likely be scrubbed down - all assets sold and all debts paid off (monies owing to other companies) under this agreement.
CMY will then be put up for sale, someone may offer $1ook or and buy up an ASX listed company (shell) - CMY will have not much left after the administrators getting paid out.
Then the new CMY Owner/ Board will have one look at the share registry and think... "Wow, 1 Billion shares outstanding, lets consolidate that"
They won't care one bit about current share holders - no reason to, we haven't done any favours for them and they don't owe us anything for being 'loyal'.
Consolidation say 10,000 to 1 or whatever (that's just an example). So the registry will then show may be 100k shares outstanding.
In this example, if you have 500k or shares, it'll be 50 shares. At $0.005 that's like 25c.
The new CMY, new Board etc will then probably change the name, brand, and direction and launch a Capital Raise to get some cash, - issue say 500m of shares further diluting you're then 25c holding.
Like Pro Capitalism says, for current holders your shares are worthless.
A 249D IMO was the only way that us current holders could salvage something out of this mess. But, like myself, not worth the effort for most here.
Cheers
MSN
CMY Price at posting:
0.5¢ Sentiment: None Disclosure: Held
