you will find it was announced by the company (circus would sound better) that ian allen is leaving as ceo to become president of global sales and marketing based in the USA.
for him to volunteer to leave as ceo his new job description must have included flying first class around the USA wasting shareholders money ..
cap raising is all about dilution of existing small shareholders. see it all the time, once you run out of sophisticated (read suckers) investors giving you money and you have half a decent product its time for manipulation, negative announcements coming out of nowhere, blaming the poor performance on global financial crisis. share price lost half its value in the days before they came out with their capital raising announcement. clearly someone knew and choose to sell . insider trading obviously.
ian allen who owns around 15m shares thinks he is running a private company. the bloke couldnt do his job as ceo so now has chosen himself a new job as a salesman for which he has no previous experience.he should have been turfed out.
sadly the company does have a great range of product applications but the asx is a disaster regarding the regulation of these two bit companies. anything goes and small stupid unsophisticated shareholders are there to be taken advantage of. The company should be put up for auction. i am sure its worth more than it appears.
