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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