Some much luckier than others. Most still have a job, accumulated losses they can hopefully offset against capital gains from more successful investing in to the future but then there are those already retired who cannot get anything back, who now have nothing to live on, who now just sit and think of what might have been because they can't afford to do anything else. I am in that category.
Not much can be said. We tried like hell to get those at the top but in the end there was nothing we could do.
The Directors left nothing but an empty shell so the lawyers wouldn't act if they weren't going to get a return even though they said we had a strong case. Even failed through ASIC. A number of us made direct representations to ASIC but a $15k fine was all it got. Big deal.
We could have by now kicked arse and been rich. Look at SpaceX who basically came in and moved on from where we moved out. The idea and the concept was brilliant. The reality was a sham, masquerade, litany of lies, deceit, and gross incompetence.
Good luck to all those who can to some extent pick up the pieces, and commiserations to those who can't.
There are a lot of people to blame, and not all of them worked AT Newsat [although some may have indirectly worked WITH Newsat].
Last one out shut the door [the light was already turned off years ago.
Gannp
NWT Price at posting:
11.5¢ Sentiment: None Disclosure: Held
