RE: RE: RE: Holy mackeral .! $350 million @13% Boy, these guys - board - should all be thrown into the wringer ... !? IMO, the approach to the financing and the handling of it(especially, board and its lead broker) should be cleared by regulators for the benefit of all shareholders and for the sanity of the markets in general. I'm sure all longs(except the big guy that was allowed back in) from a few years back must be fuming!
These instances are never good for the over all health and confidence of the STOCK MARKET.
NO WONDER, some calls it A BIG CASINO ... ... ... !
So, now what can we do? VERY, VERY LITTLE. They(regulators) have rules in place that they know very well that do very little. Companies still have enough cracks in the rules and regulations(the system) to fit in their "not to code of ethics" conduct.
IMO, when a board knows that minority volume can't challenge their moves, ... ... it's an open door! INTEGRITY becomes the door knob. Otherwise, directors, under the stated code of ethics wouldn't put their own reputation(if any) and wealth(if any) on the line; I don't think ... !
Investment rule #1 - Management track record.
Sooner or latter the voices of many will echo loud enough that the regulators will throw some BIG wheeler behind bars, as they do in the US.
All the best to all that play a fair game. To the crooks and the ones that protect them, may you never prosper.