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Ann: Response to ASX Query Letters, page-311

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Ryzie

3,795 Posts.

1980

23/02/18

22:46

Post #: 31305931
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Originally posted by Lumpy Pom ↑

I have to say it’s not easy to understand the financial arrangement so many thanks to the posters who are breaking it down into digestible chunk. However I keep coming back the the following thought whenever I read some scornful comment predicting doom and gloom but with really spelling why.

Didn’t Massie recently buy on the market circa $400k of stock?

So he has full knowledge of these complex financial arrangements (given his background I think he will understand them), the current sales performance in Australia and US, the risk of and number of defaulting customers and any issues in swapping in new customers. He then puts his own $400k on the table. He does this before the recent share price drop aided Johnny and the shorters who coincidentally preceded his articles.

Lumpy

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I have absolutely no doubt that the problem with this company has been pointed out. They didn't disclose the issuing of shares after the agreement was made. Definite breach of the listing rules. Let's clean that up and move on.

Massie bought on market because he sees the potential here. The same reason why we all bought. This is imo.

BIG Price at posting: $2.22 Sentiment: Buy Disclosure: Held
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