UCL 0.00% 30.0¢ ucl resources limited

its a story of how directors could make a #@@$%$#

  1. 81 Posts.
    If a director was to convert say 9 million convertible notes (see recent annonncements)not only does he get 10% interest on loan but a 20% discount on share price so he could hypothetically buy 9 million for around 2ook and resell on market for around 270k.Then there is the poor ordinary shareholder who hypothetically bought the same amount back in 2000 which would have cost 4.5 million dollars at their peak .Those shares would have since been consolidated 10to1 which means he now has 450kshares worth around 13 thousand dollars and thats not including borrowing costs for the poor #%#@.Recent letter to shareholders promises day in sunshine will come-but a day in sunshine could also give you a melanoma .To all you directors shame shame shame.
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