of course there will be a trade in this but that is about all. imho the best trading will be prior to the record date on the back of some story that sounds good because after that there is going to be 170 odd million new 1cps that are probably going to be dumped for anything offering 50% profit. quite remarkable that given the extra scrip is being factored in now that the company is really being capitalised at $10.5 million whereas a few days ago it was only capped at around $ 4 million. they are only raising $1.7 mill, why the premium?? if there is no ramp between now and the record date then maybe that will even be better for a certain few because the underwriter will soak up an even better deal.
the average guy's eyes might be lighting up seeing 3cps and the chance to get another tranch at 1c, therefore average 2cps - i dont think its going to pan out that easy.
even more damaging is that these guys are imho clearly ruthless, no telling what means they will go too in order to satisfy their own means. lots makes perfect sense now imho, including their attempt to refute the columnist that wrote the article "recession cant come soon enough for this tiny aussie guardian angel" a couple months ago. i think that in their minds this guy was a threat calling the company a 10-17cps share at the time, geez wouldnt it be better to raise capital at 1cps then much more???
seriously, how do jokers like this get to be company directors. asic/asx surely have got to toughen up & scrutinise the skull duggery that goes on in this market - shareholders are too often gutted like a fish and left to bleed on the beach.
DDT Price at posting:
1.9¢ Sentiment: None Disclosure: Held
