Doesn't mean it's right especially when they are going back to the market to raise additional funds within 9 months.
These a bad practices at a core level, complete disregard for investors money.
For a startup to pay out that much money the only winners here are Jamie Pride and Ben McGrath.
I have at a basic level trust issues with these two businesses after the research I have just done.
This isn't good for the tech startup community in Australia when two industry leaders with a lot of experience start triple dipping (stock, salaries, service agreements) along with poor business model clarity, hyped announcements, sp dropping, overseas travel expenses for things like conferences, launching other businesses, tricky reporting of revenue growth in half yearly accounts. Red flags, red flags, red flags!!
why shareholders enable these sorts of practices are absolutely beyond me! No one cry when this tanks!
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