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10:02
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Originally posted by aend003:
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The company is now capitalised at about A$4billion. They have governance problems, and those problems are not, it seems, solely related to accounting and ASIC reporting. Of course the company's principals knew out the ASIC reporting requirements but decided to flout them. For a number of years, several shareholders have been writing on social media outlets, to ASIC, and also to the company, insisting that they report financials . The accounting problems are just the tip of the iceberg. If you attended the GM in December you would have seen the Melbourne board member along with the temporary CFO/ company secretary. I leave it to others to judge how they performed. They were beamed-in from someone's bedroom! For my part, the signals coming out of that meeting were damning. Yat answered the operational questions very competently but looked uncomfortable when questions were raised about the financials.
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The wonderful thing about a market is you can always buy or sell. You chose Sell, good luck, are you looking for justification for the sale. Move on, all will be revealed in the goodness of time.
