I think it's somewhat misleading to state management have...

I think it's somewhat misleading to state management have allocated themselves shares, willy nilly. To be accurate, they are "rights" (Performance Share Rights) which only convert into "shares" (Ordinary Fully Paid Shares) if these milestones are achieved:

1. Class A Performance Share: will convert into one share upon Keytone Enterprises (NZ) Company Limited achieving, $3,000,000 of earnings before interest, taxes, depreciation and amortisation (EBITDA) in any financial year occurring on or before 31 March 2022.

2. Class B Performance Share: will convert into one Share upon Keytone Enterprises (NZ) Company Limited achieving, $6,000,000 of EBITDA in any financial year occurring on or before 31 March 2022.

3. Class C Performance Share: will convert into one share upon (I) the shares achieving a 30-day volume weighted average price per share exceeding $0.30, and (II) Keytone Enterprises (NZ) Company Limited achieving, in relation to Keytone, $6,000,000 of revenue in any financial year occurring on or before 31 March 2022.

In addition to the above rights there are 20.5 million options, exercisable at $0.30 as follows:

1. 12 million expiring 11 July 2021

2. 8.5 million, expiring with various dates

Should all of these options be exercised, I understand that KTD will pocket a full $6.15 million.

At this stage I think it's still premature to conclude whether these incentives are good or bad.