Just wondered if i am missing anything. a company with 20 mil mcap and apparently about 2-3 million in the bank, with a cash burn of approx :-2 mil per quarter is taking a vote at the agm on weather to Give 2 directors an interest free no recourse loan of approx $500,000 each so they can buy 15 million shares that will be created from nowhere only 6 months after a cr was required due to their "performance". Surely this loan alone will be enough to trigger a cr??. Does anyone know who actually proposed this incentive scheme- was it the directors themselves?.
the only possible good thing here i guess is these guys filling their pockets to bursting using our money again can only mean that they see the sp will take off otherwise they wouldnt bother. Also why a 7 year incentive on a comoany whos aim was apparently to be sold in 2 years. Dont get me wrong i still hope the company goes well, but this corporate greed is getting farcical across the entire market- whos in control of this. Occupy PYC gets my vote Heskumdai
PYC Price at posting:
5.4¢ Sentiment: None Disclosure: Held
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