yes mate, there was more detail available for discussion. The detail is pretty much what I have listed. That detail apparently was well received enough that the raise was over subscribed by $1.5m or thereabouts. HMD took the view that while those extra funds would be nice it was also important to preserve value and not dilute things further. I haven't seen any suggestion that the HeraBEAT device is a novelty device, in which announcement is that contained?
With regards to the level of wealth that has accrued to the directors, so far they have drawn fairly low salaries and have shares worth less than when they started. What do you define as wealth in that scenario? Their options are worth very little to nothing and the shares that they hold have also been diluted, further to that point none of them would be able to exit their holdings without destroying the share price, it isn't a liquid stock to hold.
Why would a fishing trip alter then value of your investment? If this is such a bad investment why did you hold post EOFY? It would have been a good deduction for you. If you're so dissatisfied why not contact the company directly? If it's possible maybe you should attend an AGM and make your points directly to those responsible for the loss in value of your holding.
HMD Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
