The company has just completed a huge placement of 105,000,000 shares at 3c a share raising $3.15 million. The number of shares on issue will increase from 71,139,304 to 176,439,304 as detailed below:
The company received an ASX Aware letter dated 16 October in relation to their announcement of the same day in which it informed the market of the sale of seven litres of eSense’s Super Lemon Haze strain e-liquid to a UK based company. The ASX wanted further details of the transaction, information relating to the timing of the announcement and confirmation that the company is in compliance with the Listing Rules.
There seems to be a lot of unhappy and skeptical ESE holders out there on other forums and some have described recent corporate shenanigans as a “pump and dump”. Based on ESE’s 12 month share price performance, I can certainly understand their skepticism.
No idea where ESE is headed but with 105,000,000 new shares it’s probably going to be hard to make serious ground in the absence of real revenue growth.
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