doyle deal shows company has lost its way

this proposed deal is rancid - it stinks of favouritism and someone getting equity in the company for nothing

Mr Doyle stands to obtain nearly 40 million in new stock; nearly 40 million options for free; plus another undisclosed multi-million package of free options equivalent to the number of shares he bought under 'previous' subscription deals

Mr Doyle is getting these shares for a rock-bottom price - why?

there is absolutely no reasoning contained within the announcement justifying the pice of 1.8 cents - unless of course the company knows that GEM's shorting of the stock is going to keep the SP held down for some time to come

it all looks like Mr Doyle has come back to the company wanting some of the action GEM got, while saying "if it wasn't for me this company wouldn't have survived through Xmas" - well maybe not Mr Doyle, but you got paid in shares back in Xmas

otherwise we have the GEM agreement in place so, and just to be clear - THERE IS ABSOLUTELY NO NEED FOR ANY FURTHER MONEY FROM MR DOYLE

what is particularly rancid about this deal are the free options - again - why?

Mr Doyle is already getting his shares for a guaranteed rock-bottom price - discounted to be sure - yet why is he also being given free options? - shareholders should be asking the company the simple quesion: why?

and on top of the above, Mr Doyle is retrospectively receiving free options to match "all" previous subscriptions he has been involved in - so MST, how many other options are we talking about? and were these previous subscriptions he took part in also subscriptions other shareholders took part in, and if so, why aren't all other shareholders receiving free options too?

these questions need to be asked of this mal-functioning Board.

this is a disgraceful and rancid deal

this company is selling out all long term Owners/Shareholders, and particularly those who provided multi-millions in funding to raise this company in the early days

now we have a desperate Board filled mostly with ageing men who should have retired long ago

this company clearly no longer cares for long term Owners/Shareholders - instead anyone with a few bucks can now buy substantial portions of the company, so to prolong the fading dreams of the old men that sit on its Board

Lee Finniear has lost effective control as CEO

our Chairman is old and has lost control over the men with money - clearly he can no longer be involved in deals as with each passing deal pre-existing Owners/Shareholders are being further sold down the river

all Owners/Shareholders should be asking the company - why, why, why?

write a letter - send an email - stand on your rights as an Owner - and ask why?

remember - this Board, Lee Finniear and all the other management are your employees - get active and hold them accountable - it's your money they are wasting...


good luck