Great weekend to you, Not sure how there would be situation where not all shares are activated?
on pg 2-3 of annual report the judgement was for 10,175,239,689 to the debt holders. AS was increased on June 14 to 14,400,000,000 to accommodate these shares. Terry is the receiver and the one who is executing all of this so he can determine when this happens. My assumption is he is one of the debt holders, but trying to confirm this. When they release/activate the shares then there should be a formal announcement and then a statement of ownership to say who owns these 10bil shares. That will be telling as I assume they will mostly be people familiar with mining, thus they will know the plan Terry has which will be to INCREASE the value of the company. Knowing that there should NOT be any big dump of shares to bring down the price.
The judgement has been around a while and the company could have just died, but it didnt because there are interested parties who want more out of this. Terry is their ticket to make the mining company work. I believe Terry has the contacts in Indonesia to create a mining company. The question may be when will the debt holders want to cash out. They have waited a long time so my bet is they will wait another year or two until this company has a good foundation and is actually doing mining.
Again in reading this there will be 10,175,239,689 (debt conversion) + 319,336,594 (current shares) = 10,494,576,283 shares outstanding after they are activated by Terry.
Please let me know if I am reading this wrong or mis-interpreting the info in the annual report.
Other positives are there are a low number of shareholders so most of the existing 319,336,594 shares are probably held by people interested in seeing this grow or have long term interest. (assuming not too many traders are going to be in this now)
any selling now is probably some people that need a few dollars and people who are doing work on this like lawyers, accountants, clerical staff, etc. to set this company up to move forward.
My conclusion is there is a very low float trading and that should remain so expect a good swing up if there is news.
Knowing this all I am a buyer now
