stop the blame game

Losses are making some of you a little too paranoid imo.

This company was virtually dead years ago. Resucitating a company requires vision, hard work, deep pockets and a measure of luck. Even then, existing shareholders often have to accept being diluted to unmarketable parcels if they aren't prepared to commit more capital. I say good on the people that were prepared to have a go. They didn't get the measure of luck they needed and perhaps the pockets weren't deep enough or the vision clear enough. They are guilty of infectious over-optimism, not deceit.

More cynically, I'd say that sometimes it is too easy to raise money on the ASX - sometimes makes more sense to let a company fail than to commit continuous rounds of new funding.

There are often opportunities for shameless trading in these situations. There are not often good returns on long-term investments for the little person.