appendix 3b - top 20 shareholders

I am very impressed when reviewing the Top 20 listing released yesterday. As I have written in my earlier post on 16 August, this gives me a lot of confidence in this company, because according to my calculations (see below) the 3 directors of this company own around 78.7 million shares or 20% of issued shares, and yet we have not seen any appendix 3Ys regarding sale of shares by directors.

This is important, because it means that the directors themselves have a huge interest in the company's share price, because their salaries are only $30k each per annum:

Added to this is the share price has been sitting under 1c for over a year now with average trading volumes around 100k per day over that period. The recent share price increase to 2.9c would have been a perfect opportunity to make some money for the directors, especially, if what some are saying, they will run out of cash soon.

The only reason they would not do such a thing, is that they must believe this company has much greater potential than its current market price of 2c per share and $7 million market cap.

Just my opinion. I bought into this company last week, because I believe this company has an excellent chance of providing great returns to investors, based on my research.