RE: RE: RE: RE: RE: Mineweb: Market leak forces No Jays, I think you misunderstood me. I didn't say Nau management was incompetent only. I meant that if incompetence is the only thing a court can prove, it's not criminal.
Whether there are additional criminal offenses is anyone's guess. It certainly looks like there may be but "looks like" and proof are very different.
Personally, like you, I hope they nail these guys to the wall because IMO incompetent management at that level is fraud.
I have no idea what burden the courts over there put on the prosecution but hopefully we will find out.
Criminality aside, another morass of ugliness could be civil suits.
Wouldn't be surprised if the next financing was in fact a takeout for $.20 - $.30 per share.
I don't know why at this point, the bondholders and large shareholders wouldn't get together, buy the thing outright and take it private. It would probably be the best way to protect their investment and the shareholders would at least get something back.