Interesting how in the annual report for 2019, management awarded themselves performance share for the "Successful pilot plant recommissioning of VSPC". Yet the company recently announced a new Pilot plant for VSPC. What the? So award themselves shares for "successful recommissioning", then 18months later, announce a new pilot plant? Wowsers.
In that same annual report, there were only 520M shares on issue. Fast forward 18 months, there are now 900M shares with 110M options currently in the money. Massive dilution, and most of that dilution has occurred at or around 5c. So much overhead pressure on the share price.
So in the space of 18months, the company has diluted itself 73%, and that dilution has occurred at 60% discount to the current share price. So its been MASSIVE dilution, and MASSIVE discounts.
At least management get those performance shares
LIT Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held
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