Came across this article from September 2013 and thought it summed up the situation well. (don't think it has been posted)
Meanwhile, Water Resources Group CEO and co-founder Brian Harcourt has quit the business after having destroyed almost all of the value in the company he floated in Australia in 2010. The shares have lost 99% of their value since the IPO, and investors could face further dilution if the promised recapitalisation goes ahead.
- See more at: http://www.globalwaterintel.com/archive/14/9/need-to-know/shorts-and-longs.html#sthash.COD4d10w.dpuf
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