Another thumping loss - is anyone really surprised? When will shareholders dump the Executive Chairman? He is getting very fat at the expense of shareholders. What a racket!!!
The stock lost $21m and has an NTA of 3c - which is probably where the stock should be trading. When is the next capital raising and how many more times will shareholders and other gullible fundies get fleeced?
$7.4m is administration expenses......rather a lot for a company with no revenue!
Erroll the Fleecer picked up 13m new options at an issue price of 9.6c as an IPO bonus options. Erroll the Fleecer also got US$515k for some other spurious achievements during the year. If that was not enough, Erroll the Fleecer's overall remuneration was a whopping $4m!!!!!
Total remuneration of the Board and "Key Management Personnel" was a stunning $5445m - these guys value themselves pretty highly for a bunch of losers.
And have a look at the list of hangers on - 10 directors and "Key Management Personnel".
If you are still holding this dog, then you really need to ask yourself why.
Good luck - you will need it!!! DDD
BNO Price at posting:
5.2¢ Sentiment: Sell Disclosure: Not Held
