Ann: First $8m Binding Cosmetics Sales Agreement Signed, page-60

You want to know why the shares dropped in value?
Check out the resolutions in the notice of AGM for 22nd Nov
Res 2: Ratification of 761,539 shares to consultants
Res3: Ratification of prior issue of 60,198,706 shares and Res4: another issue of 93,647,449 shares
Res5: adoption of employee incentive option plan
Res7: approval of up to 10% of issued capital placement capacity without using the companies existing annual 15% of issued capital to any company with under $300 mil capitalisation not listed on the ASX 300
Also not in the resolutions are directors salaries and "performance rights"

Admittedly, a lot of this has already happened and is already discounted in the price, but despite raising $10 mil odd and the so called minimum $40mil to MGC pharma ($20 mil to MXC) this all sits a bit uncomfortably with me. I prefer directors and staff remuneration to be tied to results and money in the bank rather than compensation being granted on vague promises of future growth potential.
I'll hang in there.