I agree with you wholeheartedly and it has had all the hallmarks of a hit job on the retail shareholders as routinely conducted in the mining industry. Shifting money from shareholders into the hands of management, directors, white knight lenders and large shareholders.
Mr Sheth's role is understandable, he was a servant of the company, was never going to achieve any more than his annual salary right from the get go and his bonuses and options were worthless, but the duties of the directors are to protect the interests of all shareholders, with the Chair particularly, required to be independent. They allowed the company to bumble along emptying the bank accounts andpublish bald faced lies until the money ran out. Unfortunately they were done over too when they were shaken down in the last capital raise, but perhaps that was only for the optics, because they sold the shareholders out, recommending the worst possible deal, but far too late for the company because they had neglected their duties.
It is sickening and it adds to humanity's poor reputation.
SPT Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
