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5.80%

7.3¢ archtis limited

Ann: Reinstatement to Official Quotation, page-100

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ainsleym

6,343 Posts.

1301

09/03/21

13:09

Post #: 51626707
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Originally posted by tropic: ↑

The CFO doubled as the Company Secretary. As the Company developed and grew he did not have the appropriate Company secretary skills for the larger entity. He didn't realise it and the Board failed to see it - they were asleep at the wheel.

Now they have outsourced the Company Sec role/function to consultants and the previous CFO/CS has retreated to be full time CFO. The price was a month in suspension as well as expenses.

Since lifting suspension the share price has dropped about 20% and going down. No new revenue - and while there is no new revenue announcement it will continue to go down. Those who said it was going to fly to dizzy heights will point to TNT and the like which have dropped to try and defend their prophecies. The performance of management can only be described as fair to poor. They need to pull their socks up and find revenue else this could move into "dog" territory.

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If there were legal expenses as a consequence of their failure to lodge the documentation on time then these expenses should come out of the BOD fees and/or management salaries as clearly there is a case to make here of "asleep at the wheel". I no longer hold.

AR9 Price at posting: 24.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 7.3¢		Change 0.004(5.80%)		Mkt cap ! $20.92M

Open	High	Low	Value	Volume
7.0¢	7.3¢	7.0¢	$13.32K	188.7K

Buyers (Bids)

No.	Vol.	Price($)
1	104	7.2¢

Sellers (Offers)

Price($)	Vol.	No.
7.4¢	66155	1

View Market Depth

No.	Vol.	Price($)
1	104	0.072
1	13777	0.071
1	95000	0.070
1	3120	0.069
1	48728	0.068

Price($)	Vol.	No.
0.074	66155	1
0.075	10000	1
0.078	190000	2
0.079	49500	1
0.080	201588	3

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AR9 (ASX) Chart

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