I won't be supporting resolution 7. The statement from Mr Jiang...

I won't be supporting resolution 7. The statement from Mr Jiang does nothing to allay my concerns posted earlier (which I will re-post here for convenience), plus it raises additional concerns.

1. The statement contains a number of quite disingenuous statements like, "I am proposing to inject up to $5 mill AUD over 5 years in the form of options". The $5 million only gets injected if Mr Jiang exercises his options, and there's no requirement for him to do so. In my view, if Mr Jiang executes his proposed strategy the RFX share price will not remain above the exercise price for very long. He will either exercise them quickly and take profit on the market, or he will let them lapse.
2. Redflow will surrender all of it's IP to a new company in return for absolutely nothing... not even any mention of an ongoing return in the form of share-of-profit or licence fee. Are we expected to accept the proposal on faith that the new company will one day consent to give us something? Like that will happen!
3. Redflow will end up as an empty shell consisting of no administrative staff, three directors who have no further interest in the company, and a derelict manufacturing facility in Thailand that can't be used because the company no longer has any rights over the technology.

So while I accept that the PRC market is attractive, and that the current management has so far proven unable to enter that market, I absolutely do not accept the "anything is better than nothing" attitude of some earlier posters. This proposal is certainly much, much worse than nothing!