Ann: Zoleo JV Arbitration Update, page-41

I think you'd find not as many would have gotten caught out if disclosure on the JV was better.
Board / Management didn't provide much insight into the JV in the initial announcements.
Their disclosure on how ZOLEO sales and the JV were performing were also poor.
They hid behind the JV agreement and its secrecy to avoid disclosing real metrics for way too long.
And it started from day 1, where they didn't disclose the JV until 19th August 2019.
Their own description says it was formed in 2018 (see below).
I doubt that a minimum 8 month delay adheres to ASX disclosure requirements.


The Board and Management have a responsibility to sharesholders to generate some value out of this.
With a market cap of $12m, clearly they have been failing dismally for years now.
They should sell ZOLEO to RP or Irridium and put SatPhoneShop and the Beam business on the market.
Break it up, generate A$40m+ for holders, return the cash and reverse list another business into the shell.