Glyna I am sure like MMX lawyers you attempt to spin it that CHM contribution was very little.
In relation to the Koh and Evans matter with the recent stoush between funder and CHM its clear where the power lay in terms of cutting a deal or taking the case to judgement.
You would have had funder and given Koh and Evans track record of moving on all saying we are take the money and running. CHM would have had no say in the matter as it wasnt there case and they were not funding it.
The net result was though they got enough MMX shares to cash in and get some much needed liquid assets to survive while the main game went on.
This time around they can sit it out and take it all the way to judgement.
As to your calculations wrong wrong wrong
CHM I understand claim that it wasnt just the cheques but also a number of share issues that they got no benefit from and MMX used to raise cash.
CHM funds went straight to Winterfall as part of the deposit funds. When Zuks stated in court that he knew and questioned source of funds CHM amended statement of claim to a direct interest in resource and judge accepted.
As to the value of the shares mmx/nicu never lodged 30 june 2004 accounts as they were broke. 31/12/2003 half year account showed an insolvent company ( current liabilities exceeded current assets)
At best it was a broke shell so how can 80 million shares issued in a company that has no value be worth $8 million.
That like a dog eating its own vomit and saying its just had a great meal. The shares were just paper and the real value was the cash.
CHM claim that the bulk of the deposit funds were sourced by different means or other from it. The most at risk funds without which MMX as it is today would never have existed.
This is why they want to be treated as a foundation partner. Its also why your percentages are a nonsense becuase funds invested at different times have a different risk and therefore reward profile.
CHM Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
