any news on red, page-19

All comments made in hotcopper re RED have a common theme, and I consider all are correct :- the management are not worthy of the excessive salaries they receive, they are ignorant of many aspects of the business they are being paid for, and it is an absolute frustration (and disgrace) to see the shareprice languish as it has for such a long period without any announcements -especially since they fail to understand that making promises (as they do consistently) that are NEVER kept in terms of timing is a sign of a mixture of ignorance, naivity, incompetence and lack of responsibility.
I am stuck in the stock and will remain stuck in the stock until it finally makes an announcement of a successful financing. I believe the shareprice will move much higher when the announcement happens. I am of the opinion that the financing will not be announced before the quarterly report as it would/should have happened already based on the earlier promises in the past quarterly, therefore the current quarterly will likely only give an update of the status of the project and financing rather than a big announcement that the finance has been succesfully completed. Thats just my feeling, no proof.
I believe that the financing is not easy since the company's current market capitalisation is low and therefore if there is some convoluted debt/equity mix in that financing (which is likely for a large capital construction as I imagine this will be) then its not going to be an easy arrangement since the 15% capital rule for equity could be breached - this is where the company clearly has made a misjudgement of funding capability, a sign of the incompetence/ignorance of the management team - despite the company making comment that their new director has all sorts of corporate finance capability!
Personally i believe someone should put forward a motion at the next annual meeting to seek the managing director be required to stand for election for his job since he has been priviliged to not have to stand for re-election through rotation like other directors - he should (try!!!) to give a good reason (haha!!!) for him not to be removed from the board! I resent someone getting money and a position in a company on false representations of his abilities.
Just my thoughts on this very painful subject!!!