If this was a private company owned by Zeff, he wouldn't be...

If this was a private company owned by Zeff, he wouldn't be paying himself $300,ooo plus and have expensive directors if the company is breaking even at best.....he would be working for a lot less.

However, it is a listed stock with a small operation and that is the problem....expenses get rung up regardless.....because they can. The money to fund this continually dilutes existing shareholders, especially since shares are issued at such a low price to SIs so they can get their money back quickly. It is the only way these companies can get finance other than vulture funds....which is worse. The number of shares over time increases dramatically....and unless the mother lode gets found then the company slowly slides into oblivion like so many other specs on the ASX.
The end result is that these companies are simply best traded short term.....rarely are they long term investments as some people here are suggesting. Maybe MNE will be the exception. PEN is a great example of very high executive wages, overheads and costs leading to 7 billion shares on offer because money has had to be continually raised at penny prices. It becomes a vicious cycle, one which MNE is entrenched in.