This may have been posted previous, but the DR gifted himself 2.5 million shares (and 2.5 million warrants) earlier in October. He says he will fund the company for one year (if other funding cannot be found elsewhere). So theoretically, he gets 2.5 million shares for possibly doing nothing (if he can get funds from elsewhere). The other condition is that he remains the controlling shareholder.
This guy is a joke. He seems to be the Israel version of Peter Foster. He has done this before when it was listed in ASX. He is slowly weeding out shareholders, and i have no doubt he will take it private again, and screw us once and for all.
Extract from 6-K below.
In addition, on October 6, 2022, Dr. Yacov Geva, our Chief Executive Officer and major shareholder, provided a letter to our Board of Directors in which he committed to finance the Company’s operations for the next 12 months until October 15, 2023, provided and as long as he continues to be a controlling shareholder and/or the Company cannot be financed externally from any other sources and/or until a sum of $10 million is received by the Company for its operations this year, whichever is earlier. In exchange, for providing this commitment, our CEO will be issued 2.5 million Ordinary Shares of the Company and 2.5 million warrants to purchase Ordinary Shares of the Company (on a cashless basis) at an exercise price of $0.22 per share, which was the closing price for our Ordinary Shares as of the day of giving this commitment.
