Ann: Trading Halt, page-37

  1. 1,202 Posts.
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    The price (we) paid up to 20c is very relevant because it was a calculated decision based on the dilution at the time, and expected time frames communicated to us. This is not a distorted view based on personal experience, this is disillusionment based on actual facts that have come to pass over this time.

    The very first roadshow FBR did for retail investors was held in Brisbane, the topic of upcoming performance shares based on $10m revenue was raised. Mike was tip-toeing around how they were going to meet this milestone. I personally called out from the audience "You're going to sell the machines back to yourselves under the BW joint venture". He pointed to me, nodded and confirmed. Aiden didn't look happy.

    On the surface that's irrelevent, however this was a company that was touting it had pivoted from selling machines to selling WaaS. Selling machines back to themselves in this manner I feel adds considerable weight behind the building chorus of "questionable ways performance milestones were being achieved".

    Lets now look at the covid layoffs - many positions were terminated to reduce operating costs. I can accept that, we're pre-revenue! We need to save every penny to weather the storm. So why didn't mgmt also take a haircut? Correct me if i'm wrong but isn't Mike on circa $450k ?

    $450k (again, correct me if i'm wrong) while much of the team is being cut loose, in a pre revenue company being kept afloat by R&D rebates. I challenge anybody to tell me that passes the pub test.

    I have never, and will never, question Marks ability to fulfill his role in engineering. Nor will I question his salary, he has absolutely delivered on his responsibilities and continues to do so. His job is to deliver a machine that functions as advertised and it does.

    Is Mike the right person to be the CEO? What are his credentials and experience in this realm for a public company?
    The last time I looked at his profile on Linkedin he didn't exist before FBR?


 
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Last
0.5¢
Change
0.000(0.00%)
Mkt cap ! $28.44M
Open High Low Value Volume
0.6¢ 0.7¢ 0.5¢ $242.3K 41.17M

Buyers (Bids)

No. Vol. Price($)
178 91405815 0.5¢
 

Sellers (Offers)

Price($) Vol. No.
0.6¢ 3324000 5
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Last trade - 16.10pm 18/07/2025 (20 minute delay) ?
FBR (ASX) Chart
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