If my memory serves me correctly, these shares were issued to pay for Bioenquire and then not paid as Bioenquire did not perform.
So the cost was ZERO. HOWEVER, they could have been sold for 30c back when the deal was finalised, so implicitly, we've lost 23c per share. So I guess you could argue that we've lost about $1.6m. And we were all diluted in the process. And, IF this was one of the issues that was a breach of the corporations act, will ASIC make us pay any fine/penalty?
And why is there still 2m unsold? When are they going to be sold and at what price?
MEM Price at posting:
3.5¢ Sentiment: None Disclosure: Held
