So, what we know is that less than 20% of available shares were subscribed in the first round, and that in today's press release, Mr. Bendall is quoted but does not reiterate his commitment to take on all unsubscribed shares.
We are told that the directors bought all their shares -- but we are not told how many that is.
If Mr. Bendall is not committing to take up all unsubscribed shares, and only 20% were subscribed in the first round, from where do we think the dollars will come to buy $.04/share stock for $.07/share?
Are we missing something?
Howard, you always have insights, look forward to the explanation.
