appointment of 2 directors, page-41

How did he entice them?

IMO

a. turning around a company that needs to be recapitalized, with a potential asset that can be developed that has a NPV of at least order of magnitude greater than its MC, but at great risk.

b. good old fashioned compensation - via incentive options - that will reward the successful directors handsomely.


Once the dust settles I'm sure the relevant incentives for directors will become apparent.

Say 50M options exerciseable at 2cps expiring Dec 2014. A million bucks if they get it 4cps.

Just a WAG.