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sk1pper

140 Posts.

48

07/08/18

15:22

Post #: 34777830
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Originally posted by sk1pper ↑

Oops, forgot the docs but in brief:
• Tikforce’s share price has plunged 97% from its IPO price.
• Tikforce has issued convertible notes for $2 million, secured against all of its assets.
• Messrs Baum and Anderson have immediately spent almost the entire $2 million! Mr Baum has previously stated:
“via this agreement with Regency Corporate, we have secured the Company’s immediate future. $2m will allow the Company the time it needs to execute its plans and demonstrate that its proprietary Human Resource Platform can be operated as a profitable and sustainable model.”
and furthermore; Mr Anderson considers Tikforce’s cash balance of $213,000 at 30 June 2018 to be: “a healthy cash position”.
• Tikforce’s shares have been routinely suspended from trading for long periods of time.
• Tikforce has been forced to retract announcements of so-called ‘binding’ client agreements, failed to achieve forecast revenues, and recently generated a miserable $34,000 in customer receipts for the June 2018 quarter. Tikforce has meanwhile haemorrhaged shareholder funds.
• Tikforce failed to comply with statutory demands giving rise to a statutory presumption of insolvency.
• Mr Baum traded in Tikforce’s securities during a blackout period.
• Messrs Baum and Anderson have excluded Mr Houtas from management of the company.
• For all of this mismanagement, Messrs Baum and Anderson pay themselves handsome salaries of up to $300,000 p.a. out of company funds.
• Messrs Baum and Anderson propose to issue 706,000,000 shares to convertible note holders. They don’t tell you the identity of the note holders, who would obtain about 78.5% of Tikforce, whilst we loyal shareholders would be diluted to about 21.5%.

Download the documets and make your own minds up chaps.

Cheers.

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Good grief, don't seem to be able to upload, but the informtion and proxy documents/instructions can be downloaded from here: Free TKF!

Cheers

TKF Price at posting: 0.5¢ Sentiment: None Disclosure: Not Held
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