What would new board do, they would cancel the performance rights, as the revenue targets are not met, as revenue will be cancelled from Asic licence cancellations with some of the old customers. The revenue can't be recognised now. The performance rights conditions aren't satisfied. The performance rights cancellation, would be a boom for shareholders, less dilution, and higher share price.
Let's face it, it was pretty stupid by JK and the board to base the performance rights on revenue when you know some of the revenue you get could be cancelled in the future, just because of the nature of the business. The performance rights should have been linked to share price performance instead. None of this would have happened
ISX Price at posting:
$1.07 Sentiment: Sell Disclosure: Not Held
