SOMEBODY PURCHASED SHARES - HOORAY!, page-7

IMO Canning is a skilled sales manager.

He was appointed CEO in 2014 and the share price was then around the 4 cent range. Today it's at 5 cents. That is a period of 8 years. Shares held 3,233,418

Baillie has been a director since 2007. That is 15 YEARS of delivering no shareholder value.
Shares held 50,704,301.

Jobling the current Chairman has been on the board since 2015. 7 YEARS and delivered no shareholder value. Shares held 50,704,301

So here we have the chairman and a director with 40.75% of the shares.

Along with Phillip Gordon Ewart an insider investor who has accumulated 17.37% of the shares. Shares held 57,069,697.

So these three individuals hold nearly 60% of the company shares.

That leaves around 130 million shares that no one is interested in.

So where does this leave this company?

The commissioned agency business keeps the company alive, but in reality, is a like a governed regulated government entity. Strictly controlled by opposition organizations selling the same products and controlled commission rates set by Larry Ellison's company. Will always keep everybody within the company gainfully employed and the relevant fees/consultancy/salaries rolling in.

The philosophy/culture seems to be running a company to provide a financially secure workplace for all involved with the organization. The acquisitions are "safe" with minimal spending along with corresponding underwhelming results. The company survival link is the agency - revenue looks great but unless they turn over $100 million it just remains a secure place to be employed and get paid a handsome salary.

They had a huge opportunity a few years back to build this company by doing a commercial collaboration deal or similar, attracting investor interest/funds and raising cash from the market.

They did nothing.

Now, it's just about survival - what a waste!