For me it's not a trust issue as to whether I think the...

For me it's not a trust issue as to whether I think the management are being truthful, I chose to believe they are.
If I didn't I would sell.
The question for me is now are they capable of making deals?. We have had many, many truths over the years and they've amounted to nothing. The market is certainly not buying into any of it.

With our share price this low and looking trashed, I personally disagree with management tipping in on CR's with free options when the share price sits at 60% lower than when they started with the company.
If management wanted to tip in and send a positive message to the market, they've had ample opportunity over the months to back themselves and buy on market at a very low price and still do.

As long term holders we show good faith and choose to live with the paper loss and opportunity cost of supporting the company over the years. It would have been good to see the management align with that and back themselves.

Add to that, I'm totally aware that I'm playing down here in the risky and sometimes very dodgy end of town in the penny dreadfuls. We have all seen aplenty what can and does happens all too frequently with companies down here.
i.e. the share price going down year on year and management still managing to acquire millions of free/cheap shares and options. Plus the ever needed CR's at unreasonably low prices with plus, plus bonuses attached where you to get to see the Insto's eat your lunch.
Then there's the cheap takeover bids where a low ball offer is lobbed on the table and management get up there at the lectern with all their millions of freebies, preaching to you what a great deal the offer is and why they think the offer should be accepted.

Do I think our management are doing the above, I hope not but CR's like that one don't inspire a lot of faith.
There's nothing wrong with staying vigilant and expecting accountability and results.

Slowly, slowly long term holders through dilution, not only see their shares devalued but more damning the power of their vote is diluted away.

Assessing and evaluating all possibilities keeps my cognitive dissonance in check.