You have nailed it Smarty. But you don't know that you nailed...

You have nailed it Smarty. But you don't know that you nailed it...

You have raise the fiduciary duties expected of the board of directors, especially in a financial sense. The board needs to be reminded that those who manages Cynata’s assets and money must act in their shareholders' interests, rather than serving their own interests.

The financial benefits being given to the Directors need to be given on terms that would be reasonable in the circumstances as if the Directors and the Board were dealing at arm’s length.

Regarding arm’s length dealings all of the following factors should be considered:
- how the terms of the overall transaction compare with those of any comparable transactions on an arm’s length basis;
- the nature and content of the bargaining process;
- the impact of the transaction on the company;
- any other options available to the entity; and
- any expert advice received by the company.

None of the above (but all ASIC requirements of Directors) has been met by these resolutions...

Watch this space!