present valuation achievable?, page-13

Well, we are a week down the track and we've lost another 8%.

Here's one example... on 12 September 2018 - Dennis Eck invested another $1,000,000 into this organisation and Maria invested $100,000 and just on these shares alone, they are sitting on losses of circa $700,000 and $70,000 respectively.

If the insiders are happy to keep investing this amount of their wealth (perhaps we should substitute "wasting" for investing??) - then why should I be disappointed about currently sitting on a circa 80% loss. Either they know better times are ahead, or they have a plan to buy out the company once the rest of us are wiped out - or they earn their dosh too easily!!

I remember questioning the wisdom of the 20:1 consolidation at the time on the (somewhat tongue in cheek) basis that "it just creates more headroom for the SP to drop further" and the reason given by the Board was words to the effect of "it will create better credibility in the market for the big boy investors to want to invest".

So the SP went from 2.5c to 50c and my holding (at the time) went from 1,000,000 to 50,000 and despite all the initiatives of the Board over the last 2 years, I won't be surprised to see the SP being back at 2.5c very shortly.

Even though I am lucky enough not to have to rely on this company to pay my bills - it is a lesson in not blindly believing the narrative (or announcements) of a company's Board. It always pays to do your own independent research and to trust your own analysis (& gut). If I would have done that, I would have sold on the same day as the consolidation but no, I gave Maria, Dennis & Co the benefit of the doubt and trusted they knew what they were doing.

I apologise if I have upset other holders - but I expected better things from what we have had to endure and "hope" will only take us so far. I repeat - if I was the CEO of this Company (even over the last 3 years) - I would have resigned long before now. It feels like we are just wallowing in the deep blue sea without a rudder and nobody knows what direction the land is. Very, very disappointing.