Peppie, I bet they have significantly less than $3M in the coffers. As a shareholder I hope it doesn't get toward the death zone. The quarterly will be out in a week. We will see then. but given the notice of meeting is asking for the ability to place an extra 10% and increase it to 25%, we are odds on to cop another dilution before christmas. ho ho ho.
Bill Bloking is getting paid $300,000 per annum, thats $25,000 per month and more than what the previous md was paid. If he cant find a partner for Coburn and he can't sell it and all he gives us is a dilution then what have we gained by Harley leaving? Simply, if he doesn't deliver and get the share price up then he should be shown the door.
Don't forget that a fair sum of the money returned by rebates/ refunds and the like was used to pay the previous md's legal entitlements on retirement. He did after all work for several years without getting paid.
I really wonder about a few things with this company. It will be interesting to see if shareholders vote down the remuneration report and vote down the chairman's re-election. Either resolution can be voted down - it just depends on what Mr Tillbrook wants to do.
GUN Price at posting:
2.3¢ Sentiment: LT Sell Disclosure: Held
