ozgem, madmax you have been big supporters of this management, how are the following moves to date positive for share holders:
*Share price 1 year+ later still no higher then previous management
*Directors sell out every project removing the upside potential of the company
*Directors raise cash at IDG's lows at .25+ options & now buying back stock up to .50
*Directors issue 40mil options to themselves
*Directors not keeping shareholders up to date with what shares they have invested in
*Directors raise there wages to $500,000 per annum + super benefits
*Directors receive 2% of any increase in the book value of the Company's net tangible assets over the previous financial year
*Directors now want to spend up to $30mil buying back stock, this is very big money to waste just buying back stock, why not invest it elsewere where IDG can benefit from?
*Directors want to consolidate the stock 10 - 1 & turn IDG into a $5 company, any investor knows a small cap stock turned into a $5 company will struggle to attract market interest especially when buybacks are complete there will only be around 4mil shares on issue, consolidations are usually done to companies that have 500mil to 1bil+ shares on issue, why does management want to consolidate a company with only 80mil shares on isssue?
IDG Price at posting:
$5.00 Sentiment: None Disclosure: Held
