I among many other Shareholders in KKL voted Yes to the Acquisition of Isity Global at the E.G.M. The Sales/Revenue projections of $15 Million in 2018 and $50 Million in 2019 looked very positive and the chance to widen the Kollakorn offering to the market was compelling.
What went wrong?
No Sales/Revenue, only Costs. Only Charles Hunting remains as an Executive of Isity Global and a Director of KKL.
We have experienced a 90% Dilution in Shares held in KKL.
The former owners of Isity Global now own about 20% of KKL, at no cost to them, including Paul Beddie who owns 3.159% and he left the organization on July 31st 2018.
I think the Due Diligence Process and all involved have a lot to answer for. The KKL Board, David Matthews the CEO, and RSM Corporate Australia Pty Ltd and of course the ASX all thought it was a great idea. Highly recommended.
What can we do to rectify this major problem?
Someone must surely be responsible for this unacceptable situation. Do other Shareholders agree and what can we do as a Group to bring this matter to a fair and reasonable conclusion.
Rawiller.
KKL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
