So you're saying the market cap will shrink to $500? Don't be...

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donteatme

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28/08/18

08:58

Post #: 35223047
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Originally posted by msn81 ↑

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

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So you're saying the market cap will shrink to $500? Don't be ridiculous.

The market cap here is only $5m, there have been shells with no cash worth more. It all depends with how they choose to play it and who they get on board.

CMY Price at posting: 0.5¢ Sentiment: None Disclosure: Held
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So you're saying the market cap will shrink to $500? Don't be...

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