Undertaker, you've hit the nail on the coffin...
>You must understand that the game is really fixed in the companies favor. Options can be repriced at any given level. Shares can be rolled back at any given time. Preferred shares can be issued over common shares that the general public gets. Financing and dilution can take place at practically any level. Shares can be given away to PR people. Shares can be used to settle debt. Etc. etc. etc.<
The game _is_ fixed in favour of companies! And this is why shareholders should be vigilant and ask challenging questions of management all the time.... and not "raw raw" management with a hope against hope mentality. Anytime where there is a whiff of foul smell... sell the stock and look somewhere else to invest!
Here is another piece of educational information that was not mentioned in your post... consulting fees paid to corporations owed by directors/management. Below was taken from the Management Information Circular to shareholders... (Wayne, Gabe, Don... do you read MIC at all?)
"During the year ended january 31, 1998, Professor Timothy Shaw, a director of Antares, was paid $12,521 in consulting fees charged on a per diem basis primarily related to work completed on the Lady Lina property and acquisitions being considered by Antares."
"During the year ended january 31, 1998, consulting fees of $18,452 related to accounting services provided to Antares were paid to Safkor Minerals Ltd." ( Dennis Gray is a director and shareholder of Safkor Minerals.)
"During the year ended January 31, 1998, the Board of Directors approved the payment of $40,000, as a consulting fee, to Northern Strategic Metals Ltd., a corporation of which Dennis Gray and certain members of his family are directors and/or sharehoders. Northern Strategic Metals Ltd.'s registered office is located at Caledonia House, Georgetown, Grand Cayman, Cayman Islands, British West Indies."
If John has more evidence/information than above, then he may have something solid to do battle with.
(ANZ only has 3 directors on the board including Dennis Gray.)
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