IF all three Directors took up their entitlement of 37 million shares approx. at a cost of approx. $188,400 then the balance of the approx. 1000 shareholders coughed up $45k.
You may say around 30% in cash takeup but what a horrible performance by the remaining 997 shareholders if the Directors fully supported the CR.
It looks like a massive rejection of the company's management, status and direction. Someone on the Board needs a new GPS because we have gone backwards since the departure of the GM last December.
If youre happy with all that is happening well and good. I cringe for the future of SPX.
SPX Price at posting:
0.5¢ Sentiment: None Disclosure: Held