the explanation looks to me as though the board waited for the...

the explanation looks to me as though the board waited for the sp to fall as low as was humanly possible, then strike with a massive rights ensuring that a deal was done to give them a sizeable parcel of 1cps shares amongst themselves.

no way ddt needed $1.7 mill while the sp is so low. they had at least 700k end of december, +300 odd k resolution with the south africans +450k over the next 18 months also with south africans, a new deal providing dots to italians worth $3.9 mill over the next year + a handy ATO return coming soon from right downs in R&D.

this reads as a real scam to me, has done a lot of damage to the company's reputation and longer term prospects but hey, how many directors focus on short term gain in this day and age???