I had to read the EGM document about 10 times just to get my head around the content.
In short yes.....at first I was concerned with the amount of shares to be issued across the resolutions, however I am actually quite comfortable with the directors/employees taking out parcels in lieu of payment - their proverbials are now on the line. People perform best under pressure, so they now need to perform otherwise no honey, no money.
The CR at 600,000,000 and the balance being issued still keeps us under the 1b total issue figure, so dilution is not enormous. They have opened the floor to the public with the CR which I believe is a good move as it can potentially bring in BIG investors
Time will tell how things pan out...
PDF Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
