The company has somehting and will go places, with a dual listing to look forward to among other exciting developments... but you have to question some of the proposed resolutions at the upcoming general meeting:
- 2 million options to go to Stuart Crow just for being Director, it would seem. "There are no performance criteria on the Options given the speculative nature of the Company's activities..." -- shareholders shouldn't like the unconfident language of that. Other companies that are just as "speculative" provide options as such but identify them more assertively as "performance" based.
{Stuart Crow is also director of Ballyhoo, some artsy fartsy business (which got 2 million options in TNG!) that somehow "provides public relations" to TNG. Is that joke?}
- 5 million options to Advides Global Invest Ltd -- who the hell are they?
- 50 million shares to inst. and sophisticated investors -- but the price is to be determined 5 days before the date of issue. Who knows what 80% of the average market price will be? It could be 1 cent, so then they raise only $500,000 !!
I guess shareholders wouldn't support these resolutions and won't let them pass?
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