with respect Fred, from what I can see it's not about the past but about the current. The mutineers claimed they started with 30-40% of the register between the 2 big institutions and their HNW associates. They ended the vote with the same number - so everyone else who voted ( including all other institutional investors) voted against....with 30% of the register too lazy to vote ( they paying the price now). Thats the past. Now for the current - clearly all the institutions who came in to the capital raising ( the company talked of many new institutions) have sold due to the patients getting hold of the asylum - hence the price dropping 60%. They are most unlikely to revisit the company whilst new directors pay themselves excessive cash fees ( $110k per non exec in cash? maybe fair enough when it was in shares) nor when the board give themselves full time jobs at a few hundred thousand a pop. That's below investment grade poor governance and a current issue that needs fixing if this company is ever going to recover. Only other antidote is sales/performance - but company is snoozing and little sign this new lot have the slightest idea what they are doing.
IPD Price at posting:
7.9¢ Sentiment: None Disclosure: Not Held
