Fong and Bowhill didn't buy any shares. They were granted shares for free in lieu of Director Fees.
Jenkins bought 1.9m ie less than $20,000 worth.
He got 36m shares as conversion of his $400,000 loan to the company (but the good news is the company is not doing any capital raising .... if it walks like a duck and all that).
He got a further 8.1m free shares for part-underwriting the last capital raise (you heard it right, he was awarded additional free shares for underwriting a capital raise in which he had committed to take up his entitlement - that was the last straw for me).
He got a further 9m free shares in lieu of director fees.
Don't kid yourself that these guys "saw fit to top up bigly" ...
IMO, its a matter of time before this company is delisted for two reasons:
1. The costs of listing (and associated audits etc ...) can't be justified for a company worth under $10m
2. The Directors don't like having to disclose stuff to pesky shareholders.
IMO, at that point, if you're lucky you'll be offered less than chicken feed for your holding and if you don't accept, they'll dump it into administration and buy it back for even less.
I'd be getting out while I can.
RAN Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
(20min delay)