Ann: Voluntary Suspension Update, page-38

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Dutchie9191

175 Posts.

43

07/06/19

13:36

Post #: 38960655
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Originally posted by Nomadic_Investor: ↑

That's exactly the point I've alluded to - whether it be $44 or $150 left, had the company gone into VA and a full tax write-off against one's investment was available for this FY (obviously too late now, and trading won't resume til next FY), it wouldn't be too hard to argue that the tax offset would be worth more than remaining scrap value of '$x' - be it $44 or $150. Even that amount, conceivably, is likely to be limited by a 'glass ceiling' on account of the new capital structure of the company and its growth prospects.

Then, you read absolute rubbish from apologists of management, who somehow want to praise and give "kudos" to someone who has overseen multiple rounds of dilution after dilution, to the point of oblivion for the small holder. I won't even point out the irony in one poster's signature, that alludes to the importance of cash flow.

And the excuse that this company is some sort of startup? Well, if it was a startup, it should have never listed. Just because the ASX can be used as a VC proxy, doesn't mean it should. The reality is, that this is a publicly listed company, with a large shareholder base to which it should be held to account. Not a garage start-up with a handful of players. Even then - the chances that come from staying in the game, fling wildly to the sophisticated (and large) holders of the company. Not you, not I, none of us here.

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Great posts mate. Some hard truths for those who are content with mediocrity. That's why you'll find people will make the same mistakes over and over. They don't have the backbone to stand up along the way and challenge the status quo. Boot licking at its finest.

SF1 Price at posting: 0.3¢ Sentiment: None Disclosure: Not Held
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