Sefton Resources - shares in issue balloon but what is the cash position?
By Tom Winnifrith | Monday 24 July 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On 23rd October 2015 as the old board of Sefton Resources (SER) handed over power to Clem Chambers, Mike Hodges as directors and Daniel Levi as a consultant it stated that the cash position was $504,300. The new board claimed that it was in fact materially lower. What is it now? That is unclear but what we do know is that the number of shares in issue has rocketed from 4,796,618,397 to 8,949,299,416 as that was announced at the weekend.