Despite the massive staff turnover in this business, the standard of the presentations remains exactly the same.
At a glance I see on page 16 that Saxleby and Healy intend to leave the Board this year and on page 17 that the founder is not a "Cornerstone Investor". Looks like it has finally proven too hard to sustain the "family culture".
But wait. The former CEO has apparently "agreed" to move into a $450K business development role. Great that they could get him to "agree" to this when they're issuing 1 billion new shares at the price of a rubber band! Maybe the culture has a few more sniffs of glue left in it.
Instead of paying him $450K they should issue him 9 million of the new shares and watch him make a big rubber ball out of them.
The rest of it looks like the same old story about how they're out of cash again but if you give some more they will soar like cross-eyed eagles.
DCG Price at posting:
20.0¢ Sentiment: Sell Disclosure: Not Held
