I'm not sure that the taking of shares by Clark and Keniry indicates anything more than they think the company will survive - though I guess, given current performance, that is good news. It could of course be that they had little choice, given the company's lack of cash. As in mid-2010 , the company has announced that it will raise money by a certain date (in this case, up to $670k by December 24) and then not delivered. It appears they still haven't their lesson from a history of over-promising and under-delivering.
Still, I suppose when you run the company ((in reference to Hanuman) you can do what you like!
Finally, I have to comment on the shares to John Keniry. I thought after the AGM that the vote against his shares in lieu of cash for director's fees was extremely petty, when the votes for Tyree and Tayeh were in favour. Given the fees for all three were for the same period, it appeared to me that many larger shareholders (largely Hanuman clients, presumably) were anti-Keniry for poor company performance in prior years. As a result, he has ended up with more shares, as he got his allocation at 3.5 cents not 5 cents. In other words, the pettiness of the 'no' voters has ended up as a self-defeating exercise.
MIK Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
