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On wed cpx deliberately puts out a doom and gloom rn's, not surprisingly the shares then plummet, On fri 7am rn's stating Canaccord has dumped another 63m shares. At 1pm, three hours before market closes for weekend, another rn's states a guy called Cooley buys 80m shares,taking his holding from 3% to over 11%. If these set of events havn't been orchestrated, i'll eat my hat. I wonder if Canaccord had bought these shares in the beginning on behalf of a third party. I believe Cooley has done this for a quick buy and sell profit or he is going to put an offer in for the company.
Dec 2023 announcement ,the net proceeds of A$1.0m, from R&D after repaying the principal and interest associated with the revolving line of credit drawdown, were received by CAP-XX earlier this week.The company's strong intellectual property (IP) portfolio includes 11 patent families.
29th Jan - appeal filed at federal court. Just over 2weeks later cpx dismisses the appeal. In between these two dates ,cpx announces a+59% growth on product revenue and a 33% growth in our sales bookings. They knew the state of the company but still lodged an appeal. Something fishy happened within those two weeks .
Suprised that cpx are not suspending the shares until an outcome is reached one way or another. If underhanded negotiations are taking place, the company can't be sold without share-holders approval, unless the administrators are called in.
I have been in this share for over 7 years , from the short term high of 16p to where we are now. I believed the companies promises of jam tomorrow for a few years but this never materialised . They had pretty much been surviving on r&d funding, share placements and some licence payments but never made any profit. Understandably we believed the positive outlook stated in previous rn's, which have turned out to be lies. No company can ultimately survive without making any profit year after year. For me this has been a slow death by many cuts and realistically my money was lost a few years ago. At least now I can close the door on this absolute shambles of a company and move on.
Good to see that cpx lawyers feel they have a good chance to win the appeal. This time judges will decide on the legal aspects of case and not joe bloggs called up for jury service. The original judge must have directed the Jury to find in favour of the defendant, which is slightly concerning.
Kenny, I didn't realise it was the decision of cpx to go for a jury trial. They would have followed the advice from their lawyers. Why on earth would they want 12 lay people to decide on the technicalities of law, this was a bad decision.