Typical "form" from Jeff Bennett and co. They try to sneak out a capital raising when everyone is out of town on Xmas vacation.
89m shares issued at 2.32c is pretty lame. Clearly, their mismanangement of the Newpage issue should have resulted in Bennett getting the sack. Instead, they put him on the Board - go figure.....
With 900m shares on issue there is little chance that this thing will see more than 2c (if it ever relists).
I spoke with Bennett a week or 2 before the announcement of the collapse of the Newpage deal and he continued to maintain the Newpage funds would materialise. As we all know now, the funds were a long way from ever coming. Either he is totally stupid or just deceitful (or both).
The company has now basically given away large licks of potential income from its technology by signing a strategic alliance with PRI.
Talk about scewing things up..... these guys should get an award!!!
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