This is madness.where the f@#k is the contracts that were promised to Investors..
Basically they can't survive running a business on the revenue generated via active contracts so need the share capital to prop up the salaries..these kind of companies take the p1@@ and it's why Aim is so disregarded amongst the knowledgeable
It's usually used be companies that have grossly over inflated
shares in issue ..like 8+billion or so..
Its common on failed drills in exploration companies to pave the way to raise more funds at easier levels and meeting terms set out in some markets like Nasdaq for meeting a strict mcap criteria's..
The art of b@llsh@t is very evident with these CEOs..they make politicians look like saints.
Jyst one big can kicking exercise..give the gullible something to cling on too..people forget it has alot more chance of producing absolutely nada..the drilling is the easy part..
Correct me if I'm wrong but wasn't the COS 17%..
To put this it in perspective I've had 80% cos drills not finding commercial amounts so this is extraordinary low
Sadly I've learnt the hard way over the years with wild cat exploration outfits..