If you read at the Notice of AGM announcement on the 7th August 2010, Resolution 2 : to get shareholder approval for the issue of securites not less than 2.5c per share to raise $5mill.
Stock was trading at 1.6c per share at the time (all day). To say its a leaky ship is a bit careless imo.
Will be interesting to see what the new board brings to the table.
Cheers,
The Sparkler
Ann: CEO Employment Contract Terms , page-9
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