Can you imagine how you'd feel if you were still a EMC...

Can you imagine how you'd feel if you were still a EMC shareholder?

Still $0 revenue ... cash running out.. dilution.. massive share over-hang with these escrow shares... one product, one country... all your eggs in one basket.

With FLC, we've inherited a mature business and all its products and future growth ... and that US$35m cash injection at 85 cents was handy too.

So far, you'd have to say the EMC shareholders have got the better end of this deal.

It may be a different story once C-MABRs and SUBRE start ramping up, but management don't expect this to happen for a while yet. And are not required to be profitable in 2019.

There is nobody that is going to offer Ron Lauder enough money to convince him that his venture into the water business is for sale ... nor will the majority of the top 20 register who have held through this downtrend, and are probably topping up rather than selling.

But I echo your point earlier, it would be good to see director's buying on market...