@meerkat For 22m shares he has paid 1c. Two million shares were...

@meerkat
For 22m shares he has paid 1c. Two million shares were issued as part of remuneration hence not free.
The last 6m were issued at 2c and hence 120k were paid... So the total cost paid for 30m heads is close to 340k as cash plus 2m as remuneration. So cost is above 1.1c...

We also have to consider when he joined WPI, it has a 600k loan and equal to no cash means company was close to be done. Also, the first cap raise was at 1c and it was a right issue 1 for 1 so all existing holders had a chance to participate... completely fair deal IMO...

Now the second cap raise was at 2c... However, sp was below 2c for weeks and I along with few others accumulated few at those levels... even after the placement it traded between 2.1-2.3c for ages... so a fair deal again IMO

The best thing about his shells is (so far) that they are mostly liquid and are available close to the price he paid... well around 40-50% premium lol but the amount of returns they generate I guess they are worth it... All to their own strategy though

Oh the falling SP, I think it will recover soon enough as I am hoping SRT to start performing soon

Cheers