My reckoning is that the Board knows that a valuation of CTI is not going to generate any reasonable share price after taking into account the value of the debt carried by the company. This is a basket case left by the members of the previous Board. With all the announcements regarding Transcom not once did I see any offered explanation of where the $6-7million went. The money was surely borrowed as the Balance Sheet shows, but there was only ever promises of a deliverable product "vaporware". Did CTI fund all the R&D costs of Transcom? A lot of money for nothing to show. The Board has a lot to answer for and maybe SOT can instigate an investigation into where the money went.
By the way, has anyone heard any further on the ASIC case against the previous managing director, Robert Horlin-Smith?
CTI
chariot limited
