DJ, I wish I could concur with you regarding 'bad timing'. It's not the first time this has happened. Look at the 'timing' of the capital raise. Just as we put our heads above the $2 mark, they call a CR. I ask you are those the actions of prudent management?
Furthermore, we now receive a letter that management would like to complete the refurbishment 'under their own steam'. I am completely dumbfounded, why not start with 'under our own steam' scenario first showing shareholders and prospective investors they are not in dire need of a handout, after all it is what's happening now, is it not?
Giving themselves a bonus while it's shareholders struggle with falling share price I don't think RSK is crooked, I just think he's stupid and lacks and compulsion for the title he holds. He may hold a AO from our government, so does my cousin, and he received it from who he knows, along with his District Court Judgeship by his good friend the aka the Attorney General.
So on the one hand we need a cash injection by way of a loan, and on the other hand they give themselves a cash bonus. Employ a COO, CFO, and media consultant along with the peripheral staff required to make themselves feel important. Gave himself a Chairman position and appointed a MD in his place, thus creating more out going expenses.
I hate writing stuff like this and wish I could always stay positive about people but sometimes the actions outweigh any empathy I might have for an individual. I do appreciate what RSK did in the beginning, taking the Thai government to court and allegedly winning. But ask yourself this question, if the tables were turned and the Thais thought they had a high probability of winning, wouldn't they of asked for the TAFTA judgement to be read?
I have a lot of money at stake, money that would be paying me quarterly dividends with nominal growth. Instead I have to read company letters advising they have given themselves bonuses.
Increasing share float.
Decreasing money supply.
Directionless management.
Would I invest in KCN today? Sure; with new management.
KCN Price at posting:
$1.14 Sentiment: Buy Disclosure: Held
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