If I am correct, Mr Goodall had the choice of taking:
a) 3,230,000 shares worth $145,350 based on the last sale of 4.5c or b) $226,100
One might ask why the Director took the shares and not the cash for repayment of the loan?
Is the reason that the loan was not repaid as cash that the company doesn't have the money to repay the loan?
If there is an issue of shares to anyone in the next 6 months at a price lower than 7c doesn't the seem odd?
RB, I'd like to know what Mr Manusu's explanaition for why Mr Goodall didn't either a) redeem the loan for cash and then buy shares at market prices, boosting the market price or b) roll the loan over?
Is the company's cash position now better than it was when this loan was made?
Add some more reasonable questions that I don't expect to receive answers for....
MEM Price at posting:
4.5¢ Sentiment: None Disclosure: Held
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