Ann: Management Change, page-413

Dean buying shares on market never helped the SP, not sure why we would care when he sells..

he got those shares for free in a super fund- and sold off the entire holding.. too much speculation as to why.. tax liability? Living costs? Funding another super based purchase? Closing the super acc? They were free- so how they are handled by tax wise or by Dean emotionally is anyone guess… Who knows… I wouldn’t call Dean a wealthy man by any means.. 350k salary taxed at the highest bracket… all he has to show for 3 years of work is 500k after tax and 200k of shares dumped at -98% with god knows what tax implication…of which 200k was initial capital… man is divorced, living in Sydney with 3 kids with who knows what child payments.. that shit isn’t cheap.. chuck in a mortgage etc etc and suddenly is a who cares about the LinkedIn post situation — money all spends the same when ur unemployed... look how fast he’s added “looking for work” on his LinkedIn… Jesus.. he’s stated he need a mental health/ family break— but he’s out on the street looking for work already.. I call financial troubles for the sale/ something tax related..

It was the performance shares in the super acc that were sold— I don’t know enough about corporate tax— but those two items I would say have something very much to do with the reason for sale- the amount was so exact.. why not touch shares in the compny acc if he wanted to dump?

will be interesting to see if he sells off the rest of his 5.16% holding, as of now he’s still a substantial holder under the Taylor family a/c.. true to his linkedin etc.. it’s just his super that has had the sale.

voorma is set to receive $1.2m in share bases compensation over 4 tranches and 3 years - greater than 50% chance he wouldn’t take that deal if company going bk..

also no change in director holding for Ma RC- id only keep my eye on their holdings.. Dean is too much of a wild man to care about. Seeing MA or RC Sell at these levels would be a massive red flag- Kaddy sold for 5c/ share and for them to dump at -90% would indicate the end for the business… would be the greatest show of retardation ever seen in business… would have spent 4 years for pennies on the dollar for the scrip based payment and a pittance of a salary for founder roles…. Not to mention they haven’t received any performance shares…

call me a spastic- but I’ve opened the coffers bought the dip after a 12 mth break.. 10m cash, -4m spend minimum, record quarter, solid MoM and YoY growth, model showing signs of actual adoption, knucklehead f*ing up fulfilment replaced by Gomez, ceo f*ing up the company replaced by voorma with a proven track record of executing returns to profitability, logistics and delivery service- id say we’re not going bk, worst case another raise before a turnaround. Only one year in for Kaddy- low margin fulfilment was always meant to pave the path on which the tech business would walk . Would not be so quick to say the whole model is low margin garbage:.

im looking for a fed U turn in Q3/Q4 next year and markets to front run any moves by 3-6 mths..with reeducations in cash burn and continued growth I’d like to see a return to 10x multiples on revenue.. or a 250m MC. With 3b soi 6-10c somewhere on todays metrics is where I’d put a SP target.. call me a retard but this is my dd. GL all