We had no choice but to reappoint Bouris, with QVT holding a gun at our head - look at the conditions in TZ's agreements with QVT. And Ting was not up for re-election.
Anyway, I welcome Bouris' re-appointment - I am glad he has agreed to stay on - I'd just like to know how much of his time TZ is getting for our money.
Note my previous musings that I'd be able to consider the value of further re-investment in TZ if provided with even an overview of the budgetary breakdown for expenditure of the capital - in particular cash-flow projections which demonstate that the short to medium term likelihood of further capital raisings in an ever-downwards spiral is low.
I'm surely not the only one who'se run a quick ruler over the available numbers, and concluded that one of the primary reasons for capital raising is to continue to pay very high executive salaries & head office overhead expenses - for what is in effect projected to be at best a $6M turnover company (at least on the income side of the ledger).
TZL Price at posting:
33.5¢ Sentiment: None Disclosure: Held
