Yeah look I get where your coming from but I think the BOD just...

Yeah look I get where your coming from but I think the BOD just took advantage of a good opportunity and I dont think we can just keep blaming them for the share price, they have a right to buy and sell as they please like everyone else, they also have a right to be paid what they feel to be fair. What people like you need to start looking at is the underlying business, the current valuation and make an estimate of how you assume the future performance will be, I can easily see how 20 million is very cheap still for a company of this quality. I think 40-60 million will be a fair valuation especially if the company can deliver profits of closer to 5 million in the current year.
A share placement is probably going to happen because they voted for it so it wont be a huge surprise but maybe not as soon as everyone is predicting.