pinnacle ...the problem with your argument is that the shares are not 40-60c now. They are 7.2c which 30% less than 2 years ago and 25% lower to where the directors sold shares in Oct 2014. We now have over 130m more shares (1.774bn shares on issue now) on issue than we had in Nov 2014. Directors have a 45m share incentive plan in place from 2014 comprising 3 milestone hurdles of 15m shares/milestone. No milestones have been achieved to date. Why should they now get more shares alloted????
If they have discovered new applications for the existing technology great that is what their job is to do. But so far they have not transitioned this into revenue.
They should be looking to convert the 2014 incentive program worth a massive 45m shares and deal with new share incentives at the 2017 AGM....Not trying to add more shares now where they haven't yet achieved meaningful commercialisation, hence revenue.
In all businesses KPI's are set and reward follows being successful in meeting the KPI's. They have yet to meet the 2014 Incentive plan milestones....Not one but yes they have till Nov 2017 to achieve this.
Directors should be setting examples whereby they align their interests with shareholders.
They already have 45m reasons to be super incentivised......Just do it!
Now if they have some really big new developments coming up then great for everyone including them, that what there paid to do and that's why they have the massive 45m incentive plan in place.
The recent share grab has shown a serious error of judgement.
OBJ Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held
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