Management should be sacked?, page-43

Lithiumburn
How about dealing with facts rather than playing the man.
KB is underwater big time on is exercised options at yesterday's closing market price and even deeper after the potential capital raise.
He would have been subject to tax on the difference between the market price of the shares and the option exercise as at the date of conversion. So 15m oppies at around 30 cents per oppie at the top tax rate is a tax bill of around say $2.1m. As per the App 3Y he only sold enough shares to meet the exercise of the oppies so held nothing over for the tax man and continues to hold 7.6m shares so at the suggested capital price raise of 30 c aint much change, if any, left over from cashing out his shares to pay the tax man sometime this year.
He was bagged for doing this sell down, yet the company ended up with $6m additional cash. If he had let them lapse he would have been abused for not supporting the company.
KB has a very vested interest in getting this sorted, unlike armchair critics with no skin in the game.