When I weigh up matters that affect me I often look to actions and inactions in guiding whether words printed or oral are to be relied upon. Some actions and inactions are coincidential and not related to whatever one is trying to understand and so we must all speculate sometimes in trying to piece together whatever we are not party to directly.
My only speculation in all this recent ASX intervention is the joint resignation of the two Directors which occurred close to the timing of this unfortunate set of events. I only hope they did so as others speculate because their time was up and they needed to resign with enough time for the Notice Of AGM to include the resolution of their replacements.
I hope it had nothing to do with what is now unfolding for that in my mind would potentially cast a more dire version of seriousness about what folly might have occurred here with share issues. Its my speculation only but I add it to the debate as various ideas are being discussed in absence of anyone having the facts to hand.
I would hope that the AGM is deferred from the 29th only as the outcome, the facts and revealed parties of the matter before the Federal Court action will weigh upon my voting intentions on key resolutions. If I have to vote in the absence of resolution I will vote against key resolutions awarding benefit to directors, staff and advisors as it is simply an unprofessional outcome for a company to end up in.
I do not swallow that this is a tech startup and it can happen to anyone. We pay professional dollars to key people to get a professional result and where we are today does not IMO justify the awarding to anyone more of what scarce capital resources now exist and continue to deplete as we fight a crisis.
TV2 Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
