As a supporter for many years (both of TS and PLV) it astounds me that it has come to this.
The SP will never recover based on 8B shares on offer - most of the LT'ers have put their hard earned trust and money into this as the value has been lost will probably not participate - how could you? This will mean 90% dilution - heartbreaking!
I think there must be a case for some action here - I don't know - but it strikes me that no one would have participated in the last raising at 4c if the facts had been known. For me, it isn't palatable for the current management to blame the CFO, nor am I letting those directors who have left off the hook - if the truth had come out I wouldn't have gone all in at 4c as I suspect the majority wouldn't have either!
The facts are that the large shareholders will put more money in (small $ for deep pockets) and eventually they will take the company over for a fraction of what they should.
All I know is that my personal stake is large and (as such) that my retirement has now been put off probably for 10 years - there is good and bad with that but I am unlikely to financially recover from this.
Whilst I take personal responsibility for my own investing and mistakes, it doesn't let management off the hook for providing poor governance, financials, information, etc.
It's easy for the usual suspects to say "I told you so, bad luck" etc. and fair enough you were right!
I'd be interested in the thoughts of the other LT'ers.
Cheers,
Snagger
PLV Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
