Due to the circus being back in town, I have had to temporarily cut my Hotcopper hiatus short.Personally I believe what they are trying to do here is completely unconscionable.None of them deserve a gifting of well over100 million shares (pre-consolidation equivalent)…this is fantastical opportunistic reasoningon their behalf. The Share-price of OBJwas $0.05c (pre-consolidation) when SS joined the BoD.They then proceeded to provide almost ZERO tangibleupdates which drove the price down to $0.015c and then suspended the share-pricefor almost a year, while trying to push through the NS deal.They then proceeded to consolidate 20:1 anddiscount the already discounted post-consolidation price of $0.30 by a further 66%, which equated to a ‘post-consolidation’price of $0.10c or ‘pre-consolidation' price of $0.005 cents - THAT'S HALF A CENT!.Wealth destruction since SS arrived equatesto 90% for Shareholders for the supposed Entitlement Offer – ie approx. $0.05 cents down to $0.005 cents.They then proceeded to 'accidentally' omit the entitlementshortfall documentation, so that the majority of the shortfall could be divided amongstthemselves, including making PP now our No1 Shareholder – although not yetapproved by Shareholders. Continuous Disclosure?
2 million for AV & SS is also far, far, far too high of a reward byway of performance rights. Too much unwarranted opportunistic cash grabbing going on here...it's embarrassing to themselves. How do Jeff and Paul feel about this cash grab. I encourage you all to reach out to JE & PP and ask then. All four should be offered equal PerformanceRights for each Benchmark.
My personal suggestion to fix this mess would look something like this:
Class A - $1.20 – pre-consolidation of $0.06 – 500,000 PerformanceRights – expiring 2 years - 60-day VWAP
Class B - $2.40 – pre-consolidation of $0.12 – 1,000,000Performance Rights – expiring 3 years - 60-day VWAP
ClassC - $3.60 – pre-consolidation of $0.18 – 1,500,000 Performance Rights –expiring 4 years - 60-day VWAP
Now back to my hiatus.
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