Ann: Annual Report to Shareholders, page-3

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Bobby75

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01/09/20

12:50

Post #: 46986753
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Originally posted by nannook: ↑

Well a very interesting report. But i am after clarification on a couple of things. On page 3 of the report in the financial table it says we made $15.4 million revenue however in the chairmans report it says we made $16.4 million. I wonder which one it is as it is quite a difference and if they have made errors like this in the key numbers what other errors are there that are included in the report. I also noticed that one of the poor Directors has had a promotion, demotion and re promotion in the timeline of the report but is still only getting paid like his original title. There are some statements in this report that are not correct as they said that they had 100% vote yes for the remuneration report however if you check the numbers from that meeting there was quite a few no votes. it is very confusing and not correct.
Oper8tor just keeps getting pushed out with no real updates at all. There has been no commentary on why it has run over time by 18 months and cost an extra $400K and still no commercial product. Who has taken responsibility for this major mistake. I notice none of the directors are so does that mean that they are not overseeing the running of the company and if so isnt that the role of management. Someone has to take responsibility. Also of note is the company's share price has not changed in 12 months. It was 11c one year ago and again 11c and with the increase in revenue. Doesnt that tell us that the marketing of the company does not seem to be working. I have been highly critical of this aspect of management with numerous emails sent with usually the only response back is veiled threats and total deniability saying that they are all doing a great job, Share performance shows you that you are not doing a great job and the fact that the share price is still under the IPO price is saying that this is an area that needs to be improved. Have a look at your peers and compare and you will notice that we are one of the worst performing stocks in the telco sector.
Maybe this is the time for a real management team to come in and take the company to the next level.

MTO and DYOR

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Just had a few minutes to flick through. Horrible result and I've put the for sale sign up on my holding. I'll explain later. Big issues.

VN8 Price at posting: 13.5¢ Sentiment: Sell Disclosure: Held
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Last 3.6¢		Change 0.001(1.43%)		Mkt cap ! $12.66M

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Ann: Annual Report to Shareholders, page-3

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Ann: Annual Report to Shareholders, page-3

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