How much did shareholders contribute in dollars into this company was it 150 million to start with?
as it relates to the original directors -
what was director equity arrangement in the beginning? They agreed to be paid in options? But those options expired. Maeo 25c .
So next they ask for that to be replaced with 2.5c options?
Then they crash the stock to .006 and take 3-4 year contract with massive redundancy clauses? And get all that paid in shares at .006? While suspended.
what percentage was their initial equity vs shareholder equity?
and what is it today?
You can crash a company you only hold options in (they elected more options than shares in Lou of higher leverage) but get them replaced anyway - which mitigates the risk side of leverage. Then you can steal a larger slice of the company in shares for wages while it is suspended.
Where is the work for your pay clause?
what were the major shareholders thinking at the Agm voting? Tick all boxes?
I empathise with the mess that Stephen and nick have taken on board . And note their modest 50k wages for doing a great effort.
pity the other directors didnt volunteer a pay cut for doing next to nothing in the last 3 years.
MAE Price at posting:
0.6¢ Sentiment: Sell Disclosure: Held
