I'm not saying that the cap raise was not required - just the timing.
The other thing I overlooked was the $2.2 million shortfall. If they had of delayed the raise, perhaps there would have been a take-up of the shortfall as well as the exercise of options?
With two announcements within a week of each other, it would have at least been prudent to see where the share price steadied at. I'm confident that it would not have returned to .005! Even if it did return to sub-one cent, we would be in the same position! Nothing to lose, more to gain.
Good Corporate Governance is the foundation of what a well-run company builds on. This has one of the worst Corporate Governance structures I've come across.
There are two parts to a company. The Project and The People. You can have the best project but if you don't have the best people then you don't have the best chance of success. You look at the big investors. They all say they look at the people running the company before they consider the project.
I think Rebecca is doing a good job in the circumstances. I just feel that the Board needs to be strengthened. Bring in someone with strong Corporate Governance principles.
CHM Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
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