Ann: Appendix 4E and Annual Report to Shareholders, page-16

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phamp

92 Posts.

25/08/17

04:07

Post #: 26744496
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Originally posted by oggede ↑

Russel Francis, Glen Moora and Patrick Connell, have effectively offloaded 2 loss making businesses (Dash Digital, Velpic) in exchange for $200k salaries each year. Not only that, they are now free carried on a high risk business venture. To suggest they have some kind of 'skin in the game' is a joke. They're smart, you're not.

I said, "for a global growing SaaS company", implying that Velpic is not. If it wants to be, then it's going to have to raise more funds. Cost are currently down because the share price is down and management are trying to save the company from going under. Ironically, you actually want costs to go up, as it implies investments are being made to sustain future growth.

Management will tell you all sorts of fibs to get you to invests more. However, looking at the track record over the last few years speaks for itself. No one is expecting Bitcoin returns but this kind of destruction of shareholder wealth is inexcusable. There's obviously something wrong with this business as the idea was conceived back in 2012 and it's still no where near getting off the ground.

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I agree. Also, I found the supposed 53% increase in revenue is a bad figure, considering the market cap is 12mill. For me, for it to be a great growth, I would expect it to be at least a 3 figure percentage growth rate to justify the current market cap.

VPC Price at posting: 1.8¢ Sentiment: None Disclosure: Not Held
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