Latest Announcement - I for one will be voting against more...

Latest Announcement - I for one will be voting against more shareas and a dilution of my investment. $270k for 18 months - What have you done for $180K salary. JOKE..I am a supporter of the products but management have a lot to answer for.....I am still a holder but more shares makes me angry

Australian healthcare company Stirling Products Limited (ASX: STI) advises that the Company
has completed the placement announced late November 2009 and has accepted an additional
$500,000 for a total $2,000,000.
The placement was completed with sophisticated investors in accordance with last Novembers
Shareholder approval of Resolution to place up to 300 million shares for working capital.
A total 166,666,750 have been issued at $0.012 per share together with 83,333,375 attaching
options exercisable at $0.008 at anytime prior to 31 December 2015. This Placement advice
also replaces that of 26 November 2009 in which the exercise price and exercise date of the
options were inadvertently incorrect.
As previously indicated, the Companys capital needs as it proceeds with its product launches
will be fairly intense. Although this completed placement, together with the Companys
unencumbered future Sydney office acquisition places the Company on a rapidly consolidating
and sound financial footing, a full review of the Companys aggressive commercialisation plans
is being undertaken by Neil Covey, the Companys Sales and Marketing Director.
The Company also advises that it will issue a total 35.8 million shares at $0.015 per share in
consideration of full or part fees to five consultants. 18 million of these shares are being issued
to Bob Pritchards interests who have elected to take his fees of $270,000 for 18 months of
services to be provided to the Company in shares. 50% of all these shares to be issued will be
subject to a nine month escrow period.
Further, the Company advises that it has agreed to grant 15 of the Companys executives,
consultants and employees a total of 31.4 million Performance Rights which upon satisfaction of
performance milestones will result in the issue of 31.4 million shares at no cost. The issue of
these rights is subject to Shareholder approval which will be sought at the Companys next
meeting of shareholders and further subject, in each individual case, to their respective
continued appointment with the Company and to satisfactory assessment by the Companys
Remuneration Committee as at 31 January 2011. Subject to all such required approvals and
satisfactory assessment, the Rights would then be issued and be exercisable in early February
2011. The Company is of the view that these Performance Rights will provide for some
compensation in many cases for the long hours that are being contributed by all as well as to
provide individual performance incentive.