Post by
downer27 on Oct 16, 2009 6:15pm
A promotional story
Imagine this
A mining company trading at $2 goes down to about 3 cents in a 6 month period
In they are sued by two parties (1) a band of angry ex-employees and (2) a contractor they hired to get them back onside with environmental people they have fingered for over a year.
Issue a ton of shares to get cash they need to survive at cheap prices - increasing the public float from around 200 million to over 500 million fully diluted.
Decide they have done such a good job they give themselves 20 million share options at bargain basement prices.
Have the nerve to not disclose who got how many - clear violation of public company rules in the US and Canada im sure.
Really do nothing other than be allowed to continue to lose money by the environmental people in nevada.
Share price spikes three fold - not too hard to do when price is at 10 cents.
Share option holders are now in the black by over $2M for eroding over $200M from the rest of us longs.
TSE and Canada securities people need to look at this.
I can barely buy 1980 pickup with value of my shares.
Comment by
arthur7440 on Oct 16, 2009 6:33pm
If You Can Find A 1980 pickup? , let me know, not in Ontario they would be nothing but a bucket of Rust LOL Artie