TSXV:FCO.H - Post by User
Post by
focsleon Jul 04, 2019 3:10pm
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Post# 29887434
Old Shares and Dillution
Old Shares and Dillution
I mentioned yesterday that I had somes shares in my pile that I paid $.07 US for back in the day. I also have shares in my pile that cost north of $4.50 US as a result of the last reverse split that took place with this company. The Aussies have no money. If this merger goes through, the Aussies will take your money through another reverse split. They have no choice. All these grandiose projects and bold statements cost money. So at a 1 for 5 split (at a minimum), those $4.50 shares I have will now be north of $22.50 US. Is that a good deal for us shareholders?? Does that seem reasonable?? Does that seem like management is looking out for the small guy?? Anybody want to buy my shares at that price? Think I'll be able to sell them at a profit?
The last reverse split was painful, but necessary at the time for a variety of reasons. We don't need another for this mine to move forward. However, the Aussies need cash and want to milk ECS for all they can get. It's their cash cow. Do you like being treated as a cash cow for your hard earned money?? Do you? Like being screwed over?? Look at the money the Aussies are throwing at management to get this deal through, shameless. A real up yours to the shareholders.
An extremely shady deal, put forth by an extremely shady group of way overpaid shysters. Vote them out. Don't give away the cobalt. Vote NO!!