Insolvent next move, page-96

After holding this stock for almost four years I sold out yesterday at a more than 99% loss.

While trading is not without risk, it is premised on companies and directors meeting their compliance obligations under the Corporations Act (and other related legislation).

• monitoring the organisation's performance and ensuring financial accountability;
• acting in good faith and in the best interests of the company and its shareholders, and with care and diligence;
• providing accurate and timely information to shareholders and the market, including financial reports, disclosures of material business risks, and other relevant information;
• implementing robust systems to identify, assess, and manage risks;
• protecting the rights of shareholders and ensuring their equitable treatment is a key aspect of corporate governance;
• operating ethically and responsibly, including compliance with laws, environmental responsibility, and corporate social responsibility;
• aligning executive pay with the long-term interests of the company and its shareholders, including transparency about remuneration policies and practices;
• ensuring the integrity of financial statements and compliance with financial reporting standards through regular independent audits with a reputable auditor;
• ensuring directors and senior management disclose any personal interests that may conflict with their duties to the corporation; and
• implementing a comprehensive compliance programs to ensure adherence to laws, regulations, and ethical standards.

So, the question is, how could this have reasonably occurred, why, who (if anyone) is responsible, and what (if anything) should happen next? I suspect I know the answers to some of those questions.