Well well. You probably all have the proposal by now. Giving away 300,000,000 million shares at just over a quarter of a cent (not 3c Spirou).
That doubles the shares in issue, halving current shareholder equity.
The auditor says it "the proposal is not fair".
But hey you need to pay the wages of the directors so they can still earn $210,000 PA plus 50,000,000 options!
Fancy that, the company being given away in order to pay the MD and others to go and find funds to keep the company going? They have already been unsuccessful so far, so what is new?
It would be cheaper to pay a funds raiser a commission!
Or, a brainstorm just hit me!
Why don't the directors remain unpaid and WHEN they find the funds they get paid. Thus they will feel the pain that us (ex) shareholders have felt!
But no, that idea was probably never mentioned....too logical.
SELL........
DYOR but it isn't hard to conclude on this one....
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