Unless someone can convince me otherwise, I will be voting against 2-6 and 8 as well.
I notice the company suggests voting no to the options would make it difficult to attract sophisticated investors in the future. Well they shouldn't have put up a raise with the most generous free options and strike price that I've ever seen in front of us.
Merch seems to think we are stuffed if we vote down the options. Many of those that took part have sold some anyways. I would rather get the money from the banks or do a traditional raise if required. Should we raise the funds and vote down the options, it could give a significant boost to the shareprice. All depends on if our management is capable of raising the cash in a timely manner.
Even the way they have structured this such that only management does not take part in the raise should their free options be rejected is dirty.
As River says, if we can't survive without management's $900k then we are in deep trouble. I don't care if discussions after approaches for the green ammonia fell apart led to a desperate raise. Fact is management put us in that vulnerable position and they are responsible for our current share price slump. They can be rewarded after they perform, not when they have put us in this situation.
We need the funding sorted and construction started before July. That is the only priority we have right now. We have no use for Nitrogen if we don't get the phosphate plant up and running.
I heard Lindsay blame the contractor for delays but surely it's the funding that has been the main problem.
We have access to the cheapest green electricity in the world. That will be compelling to the right company that wants to partner with us when the time is right.
i hope those that are in communication with Lindsay can convey the importance of raising this money and beginning construction by July. It's so important to avoid unnecessary cash burn without production.
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