Thursday, 7 November 2013

CAQ finds "sophisticated investors"

Cell Aquaculture (CAQ.AX) is a failed fish breeder turned listed securities fraud. In a bizarre July 2013 recapitalisation, CAQ issued 250,000,000 shares at $0.01 to the public, and 100,000,000 shares at $0.005 to "sophisticated investors", bringing total number of issued shares to 374,000,000. At reinstatement of trading the magically transformed company traded at $0.02. Then in October CAQ started to be ramped, in what ASIC regards to be a perfectly normal market movement, going to $0.098 in early November.

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