New Target - $5, page-90

Just read the AGM supporting papers and was shocked to see what is going on. They are issuing shares and options to pay expenses which when you calculate the cost of capital means they are clearly operating at a loss. They are also issuing a swag of shares to all and sundry for reasons I can't rationalise. Added to this they want permission to roll out the punch bowl in the coming year by issuing up to another 10% of issued capital.

I'm outa here!