Corporate governance, page-18

SMN has been on my watchlist for a while and just noticed its back to last years levels - so i dug through the last 6 months of announcements to see what i could find:

-obviously no announcements YET
-directors selling at perceived highs

-the cap raising of 3.5mil at 1.4c to a fund. Seems SMN stuck the majority of this into a term deposit - exposed to rates, FX etc and GBP is tanking on BrExit
-as such they are operating on about a mill working capital at the moment (prob less now)
-unlisted options being converted to (i suspect) maintain cash flow

-Directors receiving huge performance share issues as payment... then selling
-massive "other" admin expenses listed in the quarterlies
-additional directors to join the board = more admin costs

"If" a deal is imminent then i suspect they need cash but have said they wont do a cap raise. looking for creative ways to generate $$$, but it may just be a cap raise is on the cards hence the fall in SP

this could go back to $1.20 if it doesnt find support today.
Yesterdays close below the previous 12 month low at 1.56 is significant !