Ann: Extension of Security Purchase Plan, page-133

Uttsy, I tried but just assumed their 'prompt reporting' history overlooked that change of directors notice. I can't now as I can only see announcements going back 2 years. Doesn't really matter how they bought them, at this stage, they still hold. I think the fact that Lester bought in the SPP is worth some confidence. Considering the bulk sample commenced 5 weeks prior to the SPP closing, and his process was to still put more in. Would he put more in if the sample was a dud? ... if the Gekko wasn't actually there (unable to actually process the sample)?

Some might say it was an attempt to save face, but save face to who? The SPP had closed by the time the market found out and no one could have put any more in; he would have been fully aware of the SPP uptake. I emailed, last week, to see if the "shortfall offer" was still active (the one they 'reserved their right to continue', in the SPP offer document) and they said no; they weren't accepting any further applications. Not that I was going to, at this stage, but I wanted to know in case there was positive news about the sample and could make a sneaky last minute buy @0.0013, if the 0.002 wall looked like weakening.

Although these guys are crap with their business decisions, I don't believe they would blatantly lie about the Gekko. There's sneaky tactics, and then there's fraud. Would they be sneaky? no doubt; would they be blatantly fraudulent? I don't think so. They don't have the same statutory protections, as directors, if they are blatantly fraudulent.