yes, it is interesting that the directors are prepared to take up new shares at 1.2c when they can be bought on market at 0.6c. Yes, they do get a free option but they are only currently worth around 0.1c for now, so they are almost paying double the market price. Maybe it's a show of confidence or maybe it's because they had already committed, but a positive sign none the less.
How much cash has the company really got? I am not convinced that the redemption of convertible notes was settled before the end of the December quarter in which case we may not have as much as shareholders have been led to believe.
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