My thoughts on this
1.
Resignation of the CEO in this situation was the only outcome that would have been acceptable to shareholders. Whether he deliberately misled the market or not is not something I want to go into, there are many other opinions on that here you can read. The fact is he had to go regardless of whether he was doing everything 100% correctly or not. The buck stops and all that. New investors, particularly injectors of new capital will also demand it.
2.
The company is back to square one in terms of trust with the market and that will be reflected in the share price. There are many other companies that have had to go through this process and come out the better for it. Unfortunately that usually burning the earlier shareholders. But you have to do what you need to do.
3.
The two million plus shares on the buy line didn't evaporate - they were sold through.
TIS Price at posting:
9.1¢ Sentiment: Sell Disclosure: Not Held
