So following on from their most recent placement to raise a massive $21,000, MUI has just concluded another placement to raise $2.5m - 250 million shares at 1c.
This 250m new share issue was supposed to be a SPP but they had their prospectus stopped by ASIC for some reason. This placement has come just in the nick of time too - they had to do it by the 5th of April. No mention of who conducted it for them or what their costs were. Hard to fathom why a private investor would buy into a company that had just done a raising at .0001c.
Within 3 months the 210m options will be converted to raise another $21,000. That will bring the shares on issue up to 1.04 billion. 420m of those have been bought for just .0001c.
If you are curious why there have been big volume single sells lately, you may have your answer in the massive profit easily achieved by those lucky enough to pick up shares at a stupendous discount to the current SP.
MUI Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
