New Direction Position Statement 14th July 2017, page-18

"You seem to be getting a bit agitated CB.  All I can say is that new direction is already a leaky ship…..

Nah, not agitated at all, just amused by the BS and or how you manage to present matters.

Optionco and the existing board has been quite clear that it is not just about financing it is about acceptable dilution to existing shareholders, something new direction doesn’t care about being “former shareholders”.

Evidence for "Former shareholders ? and please dont say because people have bought and sold shares they are "former shareholders", the issue you appear to raise is that certain people (unnamed by you ) used to be shareholders and NO longer are.   Also if you read my posts correctly instead of selectively that you will see comments about the "best deal for shareholders" that clearly means all factors being taken into account, the cost of everything to put it simply.

But off you go why let the truth get in the way of your and OptionCo position

Not sure how you only get to 20% dilution, probably need to spend a bit more time working through the details, seems I’ve been able to do more work on your own proposal than you!

Strange I thought I read your post to say;

"but I’ve been told it’s very similar to the financing he did during his short stint as Chair of ADY (convertible debt with 12% coupon and converted to equity at a 20% discount!  Ouch).

So yes, I won’t call exiting shareholders with a clearly stated focus on acceptably dilution, “fee seeking former shareholders” for obvious reasons.  To be clear newdirections own presentations state they are seeking fees and former shareholders so they are your words quoted back at you, though perhaps they sound a bit awkward to you when put together!

" To be clear new directions own presentations state they are seeking fees and former shareholders so they are your words quoted back at you,"

Really you do have strange view of how to read previous posts, If I am correct I seem to recall that the ND Team were in fact saying publicly that they intended to substantially reduce directors fees, Something that your mates OptionCo fail to say.

Not as you present it that they are potentially part of receiving any fees for locating any finance.

If I am wrong in how you have presented the information then please clarify

I look forward to more of your misrepresentations as they are at least "innovative" if not purile.

Have  nice day

CB