AlbertE I totally agree with you. The timing of their CR has been disgraceful at best!, the acquisition of sal de vida was poorly timed, the whole point of being listed is to create shareholder wealth by increasing ones share price over time. I don't mind them doing CR as long as it’s done at progressively higher prices over time. If these directors had any brains they would drum up a good story and wait to be cash flow positive, this could potentially re-rate the share price then do the raising! These Muppets have the story down pat but timing is poor and I question their intent as a board.
These Muppets are not acting in the best interests of the company and I believe there is a lot of shady business between certain directors on the board representing certain shareholders. Potential breaches of directors duties relating to good faith and proper purpose come into question if anyone ever investigated these clowns. I've said many times they have a great asset (China Plant) but I think management need to be questioned and I wouldn't mind teaming up with some of the major shareholders and drum up support to oust this board!
GXY Price at posting:
17.1¢ Sentiment: Sell Disclosure: Held
