M Development   

$0.031 watch for some action later

This one bb is king push up and short,,,,,,retail kena buy h and flush by low,,,,,,this is stock market,,,,,bb always is winner

 

Could be a ramp and dump action......be fast and swift

 

anyone here knows whats happening to this counter?

 

This counter very obvious is a trap,,,,,,

 

This stock has been sleeping for a long time!

 

Nice chart... should move up to 3c soon

 

 

shot up today. anyone know why?

 

Value Capital Management entered into a 100 million convertible bond subscription agreement with M Development whereby the Conversion Price shall be 85% of the average of any five consecutive Closing Prices per Share as selected by them during the 30 Business Days immediately preceding the relevant Conversion Date. This is commonly known as the DEATH SPIRAL CONVERTIBLES. The floating conversion ratio ensures guaranteed profitable arbitrage while the existing shareholders will see their holdings diluted.

Today, Value Capital Management just presented to M Development another $2,000,000 draw down of the Tranche 1 notes convertible at $0.00578 per share into 346 million shares.  They have already sold 654 million shares in the last few weeks.  They just converted another 121 million shares today.  They will continue to convert as many shares as they can, provided they can sell at above $0.00578.

Be careful if you intend to buy at a price higher than their converted price ($0.00578).  Strangely, there appears to be a lot of willing buyers in the market absorbing the endless flow of shares from Value Capital Management...... and in your words " Can someone please explain this to me?"

davidjabez      ( Date: 29-Aug-2012 15:50) Posted: Hi, I do not know what you all are talking about? Can someone please explain this to me?

 

Hi, I do not know what you all are talking about? Can someone please explain this to me?

 

Despite the hundreds of millions sold by Value Capital Management (654 million to be exact) in the last 2 months, there will be hundred of millions more coming out in fast succession through the conversion of their bonds.  This time, their cost is only $0.00578.  Be careful.  The supply of the converted shares is directly dependent on the demand in the market... the more you buy, the more they can convert and sell.

 

You forget to mention that Mr Huang Wen Lai sold more than 11.6 million shares in May 12 immediately after receiving the first conversion note from Value Capital Management.

mavenkg      ( Date: 04-Jul-2012 21:37) Posted:   Can anyone advise on what the “BLIND EYE” (Hokkien) doing is legal?  Can I saying that SGX only monitor transactions volume and does not CARE on what the “BLIND EYE” is doing to the shareholder? Within 2 months, the “BLIND EYE” had issued more than 50% of shares to the fund manager knowing that they will sell to the market the next day and able to issue more shares at cheaper price. “BLIND EYE” gives the crab that the money is for “Future development and expansion” As all company will say that!!! Will like to make note to SGX on why the Fund is able to make sure a Hugh transactions every time it manage to converted the shares? Is there a conspiracy? Currently I am out of this, had lost fade in whatever the “BLIND EYE” was doing, maybe SGX too. Where is your corporate governance on this company….

 

147 million shares were converted at $0.00578 the last two days* and with the possibility of billions of shares convertible at $0.00578 for the next 28 trading days, one would expect no buyer of this share above $0.006.  But yet, we do see  huge buying of  M Dev at 0.01 and above.  Modern day mystery that can never be understood.....

*Value Capital Management  entered into a 100 million convertible bond subscription agreement with M Development whereby the Conversion Price shall be 85% of the average of any five consecutive Closing Prices per Share as selected by them during the 30 Business Days immediately preceding the relevant Conversion Date. This is commonly known as the DEATH SPIRAL CONVERTIBLES. The floating conversion ratio ensures guaranteed profitable arbitrage while the existing shareholders will see their holdings diluted.

 

  Can anyone advise on what the “BLIND EYE” (Hokkien) doing is legal?  Can I saying that SGX only monitor transactions volume and does not CARE on what the “BLIND EYE” is doing to the shareholder? Within 2 months, the “BLIND EYE” had issued more than 50% of shares to the fund manager knowing that they will sell to the market the next day and able to issue more shares at cheaper price. “BLIND EYE” gives the crab that the money is for “Future development and expansion” As all company will say that!!!

Will like to make note to SGX on why the Fund is able to make sure a Hugh transactions every time it manage to converted the shares? Is there a conspiracy?

Currently I am out of this, had lost fade in whatever the “BLIND EYE” was doing, maybe SGX too. Where is your corporate governance on this company….    

 

 

"Blind Eye" = chairman. Don't issuees any more shares. Wake up......

 

Any conversion is done at  2 cent  WHY the company need so much cash reserves and it drawing THE TRANCHE 1 NOTES in batches within  such a short period of time.  Does the chairman have ANY form of financial planning and vision for the company?  

We the minority shareholder shares are diluted because of his GREAT vision.

CHAIRMAN explains your actions?

 

 

From company announcements, Fund sold 17 million shares after that almost immediately.

Chairman follow suit and sold another 6.5 million shares. Almost immediately, fund sold about 22 million shares down to 2.5c. Fund get cheap shares at 2.43 c after that.

What the hell is this ?

Now company said making mistake for issue price at 2.99 c.

Why this mistake ?

 

 

 

Fund got shares on 17 May. Chairman sold 5.1 millions shares on 18 May. He run road first before the fund sell down ? What the hell is this ?

 

 

$0.031 watch for some action later