I have been unsure whether to put any more money into BLG. I already have too large an investment for my superfund. It has promised the world but has not produced any significant sales contracts. The directors and senior management are only investing $90k of their own money. The directors are each buying $11k worth of shares. Probably similar amounts from the senior management. They do have reasonable holdings, but these have been issued as incentives as part of their salary packages.
The less risk approach would be to let this pass.
But, I have decided to buy $10k worth through the SPP. The main reason is the price appears to be cheap. It will be 2.5% discount to the market price or 1.3 cents, whichever is lower. It comes with a free option exercisable at 1.3 cents and a piggy back option at 1.3 cents. Thus, if BLG is successful I will be able to purchase another $20k of shares at 1.3 cents. In a way, I get a 3:1 leverage if BLG lands a significant commercial contract.
(20min delay)