Insiders getting 50% off current share price with proposal +
they only have a total of $6,581 invested in this stock before proposed consolidation.
no skin in the game = sweet deal for them
https://apps.cnbc.com/view.asp?country=US&uid=stocks/ownership&symbol=axq-V&country=CA
Even if you're break-even at the last closing price of 6 cents (96 cents with proposed consolidation), you'll be immediately down approximately 50% if this deal goes through. The current deal calls for financing at 50 cents post-consolidation, which is 3.125 cents at the current share structure. This doesn't even take into account the huge amount of shares that would be issued for the finance that would reduce your share value on it's own.
If management really gave a damn about shareholders, and were as confident with their proposal as they alluded to in the news release, they'd do the finance at a minimum of 5 cents (80 cents post-consolidation). The moving averages of AXQ is much, much higher than 3 cents. Unbelievable what people try to get away with under the governance of the OSC clowns.
To the poster that made it seem as if it's doom and gloom if this deal doesn't go through and that this would be a 1-cent shell -- don't believe that BS. They could easily adjust the numbers and come back again with another proposal that is close to being fair. This deal is not remotely close to being fair and is downright theft, IMO.
Vote wisely. It's your money.
Management doesn't have any skin to lose in the game prior to this proposal.
Remember that.