Interesting posts. Matt's one about potential buyers..well I...

Interesting posts. Matt's one about potential buyers..well I wouldn't discount that given we bought Dragues without any notice. Then The Dogman posted the Aeris article. What's also alarming in that is the $60 million equity raising. So we were 10c probably raising at 9c for 666 million shares effectively half the current shares on issue diluting us into oblivion. How the heck does the Board expect the share price to get back to 64c which we were pre-Clifford. That was a MC of around $550 million so even getting back to that MC means we have a share price of 27c if 2 billion shares are out there, and 27c is about 42% of pre-Dragues for the pre-existing shares. Yep the Board works in best interests of shareholders!!! Funny but sad.
I agree with the guys telling management to get stuck in and look simply at profitability. I've posted before figures that show we aren't far off being able to finance Federation from within and that surely has to be the best way to go. It was what shareholders were told would happen so was obviously first choice until management stuffed it up. I can say management stuffed it up because they've admitted they own the mistakes, not that they've done anything tangible to acknowledge ownership, like taking a pay cut or move Head Office back to Orange or thereabouts.
Like I've said, get money in the till, and take the equity raising off the table and the share price should head back into the 20s. We've had two months now of the current quarter. It would be nice to get a progress report given the disasters we've waited for previously. That would require thinking of shareholders and giving them some security around current progress, profitability and the financing of Federation, all of which are having a negative impact on the the share price.