Historically, funds have been materially used to pay directors...

Historically, funds have been materially used to pay directors and to repay interest and principal on loans to director related entities (much of which remains in place).

I think given the huge long term debt burden and action by the board over the last 12 months, you could be forgiven for thinking that the company is essentially being sacrificed to keep other entities afloat and the treatment of these SPP funds will be no different.

Amazing the line of credit was still allowed to remain in the accounts - this SPP is evidence enough it cannot be realistically drawn down.

IMO at the current SP and accrued current liabilities it is almost turn off the lights time.