Ann: Company Update, page-105

We muppets are not so much concerned with the rate of progress, more the :

• Ludicrously high cash burn rate and salaries and lack of financial control
• Corporate greed keep putting hand out for doing job and also overpaying themselves for a start up
• Shifting goal posts of what the company is setting out to achieve. ADRC was front and central and pivotal. Concerns me greatly we are deprioritising ADRC. I thought the whole idea was to have it in billions of chips in billions of IOT devices and aiming for it to be an OCF standard
• Getting away from the core business by buying other companies without having the money to do so. This forced the need for a CR, as in the case of JCT. Should have waited until Revenue coming in before being so aggressive, wouldn't have needed so many CRs and avoided the CN if COY had delayed buying JCT until financially viable.
• Terms of the CN were a complete unmitigated disaster substantially diluting stock and slamming SP
• Lack of corporate governance and independent director and complete denial by BOD to accept they have made mistakes in regard to the CN and they don't accept any role in the abysmal SP.
• Capital raises which seem to be endless.
• Bots allowed by BOD to terrorise the SP without question by BOD who seemed happy to let the SP slide and LT investors who believe in the technology leave the building in droves
• Lack of professionalism in terms of presentation of updates with spelling errors, missed deadlines with quarterlies
• Putting out this Company Update AFTER the CR. Doing it well beforehand would have been the ethical thing to do. The uncertainty killed the SP, allowing this next CR to dilute the stock even more. Someone said it might be due to Intel allowing the announcement, but an update of everything else would have been great
• The Bonus options, if they were to truly be a Reward for SH, would have only been eligible for holders at the time of the Ann, not those who bought afterwords or the new sophs and directors who are already getting a whopping 20% off
• SPP was only a 15% discount by comparison, and the Reward we got for standing by the company to put more money in at 3.3 cents was to get thoroughly slaughtered by death by bunta.
• If it looks like a drunk, acts like a drunk, spends money like a drunk, then there is always the possibility that it could be a drunk..

As a muppet who forked out $25,000 in the SPP at 3.3 whereas the Directors and MD are eligible for $250,000 at less than a cent, and are eligible for the Bonus Options, I feel like a really dudded and duped muppet, a mislead at every corner by a management I cannot believe is working in the SH best interests.

And this muppet will be voting for a Strike 2 on Remuneration Report at this year's AGM. I think there will be a few more muppets joining me.