I'd like to say that at least they are not spending limited cash resources on the "freebies" in lieu of cash - though you would have to be concerned in getting freebie shares in a company where those shares are increasingly declining in value.
I would have thought that, a better strategy for MXC at the moment would be to cut costs and abandon pay rises for the BOD - and to not further dilute the valus of existing shares held by general holders. Does not appear to be any clear policy decisions to right the foundering ship at the moment.
MCV need to maybe stage a consolidation - followed by a CR to get its finances in shape - and pay off its debts as well.
MXC Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
