Ann: Change of Director's Interest Notice - Roger Sexton, page-6

The company was actually floated at 35c. I know because I was silly enough to make the investment.

The biggest alarm bells that I didn't notice until it was too late was that Sexton arranged for the float to have two subscription prices. 35c for the public and 30c for his mates.

It initially shot up to 50c, enabling some mates to profit before settling in to the steady eight year decline to 2.4c. The mates that didn't bail in the early days have been bitten almost as hard as the retail investors by now.

The next step will probably be a 20 to 1 consolidation to reset the price at 50c, that is, if they can ever get the price back up to 2.5c.