A quick google of Geoff Hiller brings up an interesting site,
http://www.malachite.com.au/irm/content/management-team.aspx?RID=224
After reading the blog the first thing I clicked on was board of directors and guess who comes up first as chairman, Terry Cuthbertson. So they are filling the board with more of their own. Nothing has changed here, the only way is to get rid of the lot of them before they absorb the raised money.
I can’t see how a mere 1.2 million is going to pay salaries and develop a plant that has sucked in tens of millions without being finished.
A real shame that a self serving board led to this companies end, such potential it had....