Feel for holders, current shares worthless, recapitalize at a level that gives current holders basically nothing, well done management, not. This is a another clear case of keeping the company going no matter what so they all keep the jobs and salaries. Yes, they only get paid with shares for a bit, but then the trough will be full again and they'll all be happy as pigs in mud. imo.
Ann: Company Update, page-21
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