Sorry my mistake. On further reading and after my anger died...

Sorry my mistake. On further reading and after my anger died down a bit, I now realise that the situation is EVEN WORSE than I thought.

The directors are actually issuing themselves 1 million shares each for ABSOLUTELY NO REASON (certainly there is no explanation in the annual report). Then a further 1 million plus shares in liu of directors fees priced at around 40% of the current share price! So much for VWAP.

So Malcolm Bird is suggesting the long suffering shareholders pay him 2.142 million shares plus he has taken home over $110k in consulting fees over 2 years.

This equates to a package of over $210,000 at current share price of $0.078. More than most directors of ASX300 companies take home.

This is simply rude. he has been a director for 24 years and the company has done nothing. The shareholders should be asking the board some very tough questions.