RE:Sorry, I should have posted the financing news It is abundantly clear once they annouce a share consolidation that management intended to do a share issue, it was just at what price. So the price was then slowly pushed up to 9c based on very low share trading. Now they intend to maintain this price to get exchange approval. Considering that they are only issuing 8M shares, there will be more share issues but after the price has gone higher.
I too really wonder what the $460,000 expenses were for. It would have been very good for whoever received this money to subscribe for the new shares at 9c and then sell when the price moves higher in the not too distant future, I am sure!!
I believe management should have been more transparent and show to whom and where the expenses went. This would give confidence to other shareholders who may not have the opportunity to subscribe for those shares.