Martin, I totally agree. Options are supposed to be an incentive. Here is part of an announcement form IWG on 16 October 2015 :
iWebGate Limited (“iWebGate”; “Company”) is pleased to announce it has successfully raised $2 million via a share placement to mostly new US and Australian investors. Additionally, new US-based investors have provided a senior debt facility for $1 million and some of the equity. The placement of 11.768m ordinary shares was completed at $0.17 per share, together with one free attaching option (exercisable at 25 cents on or before 31 October 2017) for every share subscribed, increasing the Company’s cash reserves to circa $3.5 million.
Success was to be rewarded. We now know that those options have expired and are worthless because there has been no success - it seems survival has been a close call. Being rewarded for not going broke - not sure about that??
NET Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
(20min delay)
