Did anyone notice that, whilst messrs Biddle and Smith fully...

Did anyone notice that, whilst messrs Biddle and Smith fully participated in the 15 cent options issue, John Barr bought only a token amount of 13,863 options.

A grand total investment of $69.31!

Money must be tight in the Barr household of late, because Barr had being strongly buying the fully paid shares earlier in the year, at prices up to 10 cents.

Based on his holding of 4,500,000 shares, Barr's full entitlement was 1,125,000 million options - $5,625 in total. Not a huge amount of money, I would've thought.


Is he short of cash, or does he value the company at more than 10 cents, but less than 15.5?

A question worth asking, I think...

On the bright side, if our MD is squeezed for cash, look out for a return of capital in the near future : )


Either way, BTV is worth a hell of a lot more than 7.2 cents. NTA per share was 19.77 (at October 27th. See Options prospectus).


disclosure: Direct holding 2,000,000 shares, 500,000 options.