yeah... he made the deal then quit his job.. right ?
and he basically did nothing else but dilute the existing shareholders by 98%..
there are grounds, based on the clearly misleading information in the Quarterlies..
and also grounds on the excessive risks taken in light of the companies true financial position at the time..
taking a credit card type loan of sorts for something that is supposed to be bigger than the market cap of the company is simply not what anyone would expect his/her director to be doing at such a time..
(besides, we do not know whether the mentioned production asset actually ever existed, nor whether there was ever really any intention whatsoever to actually go through with a deal for it.. still many questions left unanswered..)
QFY Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
