Ann: Completion of Capital Raising and Board Changes, page-2

So the company bought the old Robo business back for US$60k. How embarrassing. This is what happens when a company is run by people who have no business acumen. The company was run into the ground by a model that clearly wasn't working. This is a lesson for those who rode it all the way down. Once you identify that a business model doesn't work, you run away and run away fast! Waiting and hoping for things to turn around is more often than not a recipe for disaster. The only exception to this is if it's an established business that is still making considerable profits. They have the capacity to turn things around. A non-profitable business with no cash is like throwing money down the toilet