I have commented previously that I recommend to all holders to get out of this company due to conflicts of interest. I noticed the stock was down 50% and thought I'd see whats going on. Surprise surprise, another raising. The announcement spells it our beautifully regarding the 6% underwriting fee going to Frost's related company. And why would a sub underwriting agreement be needed? Is the underwriter not capable of actually underwriting the issue?
Also, is there any reason why in the most recent annual report why I can't see exacly the breakdown of director renewmeration?
The question is how much of these raised funds will end up in the directors' pockets or those of related companies. id bet a very high %.
MPJ Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not Held