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Read page 44 of the annual report before investing here. The Directors certainly know how to reward themselves if all warrants and loans are converted it will lead to significant dilution at the expense of ordinary shareholders.
Andreas, Many thanks and a much more accurate and balanced view of the current business but a bit alarming you think the company could have inflated the earnings between 2007-12 what leads you to think that maybe a possibility?
The original number of shares in issue before the directors started diluting shareholders and this is just the beginning. Massive dilution to come through warrants and convertable loans (see annual report). CEO Mr Mellon and major shareholder Mr Banks are the main beneficiaries at the the expense of shareholders who do not even receive a dividend. Probably why there are no institutions invested here as the board have such high holdings and IMO are only interested in 'fillings their boots'. DYOR but IMO this share should be top of any bargepole list.