Thanks mate, I'm aware of these details. I'm not here to defend anyone. Its simply in my interest for this company to move on and get the job done.
The R&D refund was received after GTT were in the picture. I think you are missing my point, that the share price was already hammered, the damage done.
Pre- GTT management agreed to the underwriting. They were begging for capital after watching the business cannibalise itself.
No forseeable cashflow, that Con note should have been a rights issue (the share price was 15c).
Be realistic, the refund would have been squandered in a more detrimental way had it gone to the old board (corporate fees from "time to time").
At least GTT had some business sense, to follow market sentiment with the lithium play. Had it gained momentum as others have, different story. No different to one of the dozen entities Michael Leu and co had going on.
The takeovers board made their ruling as they did, and I commend holders that challenged it at the time.
As for warning newcomers, (every 5 mins) fair enough. But I will say, without being rude, as a newcomer, I don't care. It's all in the announcements. I don't need ten blokes with vested interests publicly bashing a company with their opinions over a loss in the small caps of the mighty asx. Get over it.
If GTT are who some here constantly say so, then your only playing their game and destroying wealth for retailers.
Assays are due. Play the game, not the man.
4CE Price at posting:
1.7¢ Sentiment: None Disclosure: Held
(20min delay)