RE: Further Entrenchment of Management NoHandle, I think as horrible as equity financing will be for us, real shareholders, it won't be the end of
the world for the following reasons:
1. Issuing equity (as you stated probably with warrants attached) in current environment for what... 10-15 cents per share with warrants will be literally a knife in the back of current shareholders. It would be
Betrayal and Treason, it would be suicidal for Greaeme's future with BNC. No single current shareholder in his/her right mind would support him anymore, even his most loyal ones. So he'll have to think not once or twice before doing this grave mistake.
2. There is a legal limit, to the best of my memory, for this possible madness - is it 25-30% of current outstanding shares without shareholder's approval? Can somebody remind this number to us?
3. So these 30mm +or- shares would be only a complete disaster for Graeme himself I hope.....G&W will replace him with Zero effort in this case....?? ...if I'm not missing something here....