Have I missed some detail? As far as I can tell the MD has...

Have I missed some detail?

As far as I can tell the MD has stated at no time that he will personally tip in $200,000 of his own money.

The MD is not covering any shortfall to the amount of $200,000. By my reading of the announcements, the sum of up to $200,000 is being covered by the MD AND associates of the MD. Provided certain conditions apply. The associates in question could be anyone from family members to business friends to Dolly from the local shop.

It is a misconception to think that the MD is risking/investing $200,000 of his own money.

The real question of credibility and one I would ask myself (if I was putting my hard earned cash into this issue) is if none of the BoD were prepared to underwrite this issue then what message would that send to the market? I believe sh’s would rightly sell down or get out of this stock very swiftly and the issue would sink like a stone.

As Doyle noted earlier this is not a stock ‘for the faint hearted.’

I would only add that the still downward journey of the POO and impending TLU future $ commitments makes it difficult to see value in this company.

DYOR. The whims and fancies of others will never make you rich.