SEI 0.00% 2.9¢ speciality metals international limited

As management are using the $670,000 refundable Quarry purchase...

  1. 899 Posts.
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    As management are using the $670,000 refundable Quarry purchase money from the $800,000 previously paid deposit. Management has a duty to inform shareholders why and how the Quarry deposit has been returned.Also did SEI lose the non refundable deposit of $130,000.Why does this board keep its shareholders in the dark about important details that need to be known to make a fair investment decision.If the Quarry purchase does go ahead SEI will now have to find an extra $670,000 to pay back the deposit.Or is it $800,000 as we don't know if the $130,000 has been lost.As the Quarry price is secret we don't know what this full price will be until it is done.All we Know if the Quarry gets purchased at any time in the future, or for any price,Russell and the board receive all their free bonus shares 25,000,000 .At the same time they are telling shareholders they don't want to dilute the shares in the Company.The Quarry owner or any future partner or investors in SEI have the strong bargaining hand in any deal and will get the better deal as SEI has no cash flow and not much cash left.I hope there is an Announcement before opening tomorrow from management letting share holders know what is going on. CHEERS
 
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Currently unlisted public company.

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