Did anyone even bother to read the annual report? It immediately...

Did anyone even bother to read the annual report? It immediately addresses the rates and utilisation of vessel on pg 4-5, the fact that contracts are down in a depressed market and the risks MMA face are discussed on pg 14, the plan to cold and warm stack vessels for idle time and cost savings are mentioned on pg 17. It states tangible assets are $2.10, I know, I know, that's not liquidating value but when the sp is $.24 you can't ignore that. There was nothing in the announcement on the 10th apart from slipway usage being down that was not already stated, which was completely offset by the news that vessel sales revenue was up by 10% and a new $50m, possibly $110m contract for WPL had been won. It is completely illogical that the sp drop nearly 50% over that announcement. As for the accusations against the board I don't know. All I can say are the facts. The MD was eligible for STI bonuses of 20% his salary, as were other key management personnel. The board decided to not to pay the STI bonuses and in fact suspended them for the 2016 FY. Doesn't seem like they are using the company as their personnel piggy bank. The chairman Mr Howarth has both direct and indirect holdings of MMA at current sp worth $300,000, $47,500 of which was purchased today. The MD Mr Edwards purchased $25,000 today. In an enormous show of confidence, the Non-Executive Director Mr Bradley purchased $303,000 worth of shares today bringing his total to 2,823,819 directly owned. To put that in perspective for you and I, he invested 2.5 times his annual salary back into the company. I can't predict the future for oil prices, but from doing my own research on the information provided by MMA and its directors I can invest with enough confidence to withstand the manipulation happening to the sp at the moment and the psychological effect it has.
Dyor