More proof that this is a total basket case ran by incompetents. Still surprised PSL is putting its neck out by underwriting this (no doubt having found parties to fully sub-underwrite). If the company raises the capital they are after, a large amount of that new money will either be paid out to Mr. Doyle or to lawyers defending this action (and most likely both!). No way any investor is coming out a winner imo.
Ann: Statement of Claim - Neil Doyle, page-3
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