Hi Billc3012
The SPP was not specifically to raise 10mill. It was a theoretical number based on everyone taking up their $15k entitlement. I'm not sure what $$ they wanted to raise but I'm pretty certain they were not looking for $10mill. They could have said "We will raise $x and scale back anything above it" but they did not and poor communication saw the market believe they were looking for $10m and people got spooked wondering why they need so much cash.
I too don't expect to see anything updates until the quarterly. But I don't buy the whole "options being motivating" argument because there's no downside for them. Either they get nothing or they win. There's no loss.
Until there are rules in place forcing directors and executives to buy shares on market with their own cash you will never see shareholders treated with the respect they are entitled to. It's hard to take management seriously when they say they are serious about "shareholder value" and the price is down 75% + dilution
Add to My Watchlist
What is My Watchlist?
