I have to strongly agree with you, and would only add that the "body language" of the new regime speaks tons about the attitude to retail. However, having said that, it is equally fair to point out that a "control group" cannot eventually get an astronomical price gain that is not available to retail. So, the strategy has to be to buy where you see value (that looks to me like now if ever), do not overextend, and be patient. There will be more dilution, but if you keep money in reserve, you can add prorata with the pp's and FT's. The apparent practise of selective disclosure , which may well be seen as a survival tactic in dealing with the majors, will alone keep us off the main board. I also believe that had there been a BB listing earlier, the FWR deal could have got done. Liquidity is still an issue to most investors. Many factors to consider.