I invested in this company months ago on the back of one of their BS news announcements stating they were close to Commercialisation. Obviously nothing eventuated and I lost money. After watching ASX movements over a period and investigating the company I formally lodged a complaint with ASIC and asked ASIC to investigate the company. I have not been advised of an outcome.
At the time I invested in this company I was not aware of the extent and duration of appalling performance or the duration of association with the current management team.
While you will not likely prevent the outrageous salary increase you do have the ability to distance yourself from this and any other company that has an association with this management team. Unfortunately there are many similar examples of companies like this one. Perhaps the best way to prevent another loss is to accumulate a list of ALL people affiliated and/or associated in any way with these companies and avoid them.
I urge all investors to closely monitor the companies who you provide with capital and to report any inappropriate behaviour to ASIC and ASX.
Good luck
LKO Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
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