RE: Great Work Augen Board of Directors and CEO A point I forgot to mention as it is always easy to complain but how about a solution for a change.
Company needs to raise cash as prior managmentcollected $1 mil in fees on a $ 3 mil market cap company draining the company dry. So what do you do to not disadvantage long term shareholders that don;t want to see their ownership interst diluted? Well how about a rights offering that gives evey Augen share you own a right to buy another share at say .08. Not everyone woudl take advantage of it which is fine but the ones that do will at least have a chance to get in with the private money. As well now you don't have .10 warrants further diluting shares in the future, and du to picking up cheap Augen shares at .08 if they own a common share, there woudl be less selling pressure to get out as well you may even have more buyers before the closing date that wants to have exposure to getting more shares at .08 .
So in summary a warrrants offering woudl
Reduce dilution to long term Augen shareholders from not needing warrants as enticements.
RAise capital at a a higher price
Be the most fair way to deal with raising cash.
Don't get me wrong , selling Augen Gold shares which might comprise a tiny 85% of their investment portfolio should be the 1st thing any responsible board woudl do from a risk assessment basis but of course that makes too much sense. Not saying sell everythign , just enough to keep thinkgs going until a real gameplan is figured out.
Bottom line , the Board and the CEO are not looking out for any of our intersts , just there own in my opinion. YOu can come out with yoru own conclusions.