Just went along to the meeting. I had a bunch of questions and was very sceptical like most on here but things seem more positive than I expected.
Key Points
Alex was not present at the meeting, currently overseas!
David Ballenytne did most the talking after Roland.
Board are confident the Gridcomm deal will still go ahead.
The Gridcomm shareholder holding the 6% is on board
Delays around Christmas were due to the appointment of Alex's Lawyer. The Lawyer was responsible for the delayed events - Roland referred to the lawyer as 'pedantic' but obviously they could not inform the market of this.
Alex has been overseas and busy trying to run a commercial business at the same time which is another reason for the delays
Reason why there are delays now is due to the ASIC and ATO rules are changing in regards to RTO - I didn't quite understand this but there should be some clarification to the market by this Friday!
If they need to raise 50-100K to cover re-compliance costs it will be done through the RTO
Consolidation rate has been agreed - I didn't quite understand the directors response but I believe what he was saying is that the ASIC RTO rules changes may impact this. Sorry, can't be any more help on this.
Gridcomm have just appointed a new CFO.
Roland mentioned the Hot Copper forum!
ODN Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
