can anyone see the bottom?, page-28

rony18 and rangi,

Fortunately I sold a considerable portion of my shareholding at 11.5cents. I sold them with a heavy heart because as you said I was one of M Rogers' staunchest supporters. However, he resigning as a director did not make sense to me.

He is obviously not doing anything illegal but what confidence does it give the market if the CEO (who controls everything) is not a director. I would not be at all surprised if the next announcement that you see will be one that announces that M Rogers has left the company. All this suspician and why? Simply because he has resigned as a director - something, which was really not necessary.

Freedman didn't like it.
The market didn't like it.
Shareholders don't like it
It did not make sense - not according to the reason given.

Anyway I only have a relatively small holding now so I will refrain from posting anymore as I don't really want to cause holders who are still optimistic unnecessary concerns.