PINL:HLOSF - Post by User
Comment by
ventureveston Aug 19, 2010 9:45am
305 Views
Post# 17364585
RE: RE: Mineralfields
RE: RE: MineralfieldsMy opionion is that Mineralfields sold the stock down unloading almost 20% of the float into a boyant market, knowing they had the commitment of managment to supply Mineralfields with another placement .
This situation was the equivilant of a pump and dump and obviously the exchange agreed with me, resulting in the cancelling of the placement.
Managment need to be taken to task on this relationship at the anual meeting tomorrow.... is anyone going?
A consolidation of 4 or 5 to one is the correct consolidation. This puts the existing wts into an achievable target for future fundraising. Consolidationg 10 for 1 was/is a means to and end to continue the past Mineralfields / HLO parisitic relationship.
HLO has been plillaged by Mineralfields destroying the share structure..... They need to not kill the existing investors to provide Mineralfields with cheep flow through tax credits. Tomorrows meeting is judgment day.
They could consolidate 5 for 1 and offer a 30 day rites offering to existing shareholders at 10 cents / share consolidated. If I am right MF is out of this now and can be flushed out now.
Math on this:
Existing shares 180,000,000 consolidate 1 for 5 = 36,000,000 shares
Offer 1 rite for every 2 post consolidation, or 1 for 10 pre consolidation shares
Rites .10 x 18,000,000 = $ 1,800,000
The company would emerge with 54,000,00 shares and approx $2,000,000 in the bank
Mineralfields would be on the outside looking in and holding nothing but a mitfull of wts at a price existing shareholders would love to be exercised price.
The managment plan is Mineralfields friendly and doom to us bagholders!