SHERELICTION = Shareholder Dereliction. This is ASX.
FERELICT = Fiscally Derelict - This is the Govt.
I only invested $3K on a whim, so no drama for me, but all them other investors out there who have lost more because of executive management who can't manage correctly but have a belief that they can. Some people may call it narcissism, I call it plain 'ol fashioned arrogance of ineptness.
However, I'm calling it out, we need new and visionary leaders for the CFO business, the current Directorship are unsuitable to continue with CFO. They have proved their worth - suspension says it all.
Also, as Gary has 53million shares, more fool him for having qualification, becoming a Director, having $millions at his fingertips and basically losing the lot for all of us. And he still thinks he can "get there" as he's hanging on to the position. It's called the Peter Principle, where one gets to a hierarchical position whereby they are more likely to fail in that position/promotion as they can't do it.
Wake up, big BOY !!!!
The Directors have been employed at the helm as they have the UNI QUALIFICATIONS pertaining to the positions. They went to Uni to prove they can do what they do and they qualified. Their individual qualification "trumpet blowing" takes up a lot of room in the AR, but the reality is they are no good at commerce as this business is in long-term suspension.
Clearly, a Uni qualified Director is not always the best solution, eg Richard Branson.
Time to start thinking if the current Directors are not prescribing for complete duty of care for the CFO business since the company has arrived at this ASX suspension. How embarrassing for the 3 Directors each having Commerce degrees (one with mathematics degree) and the business they oversee ended up suspended. Is that what is called Gross Incompetence / Sham / Scam?
Potentially, CFO may be just a personal financial source to siphon of funds for the close-knit Solicitor business it contracts to .... easy income that .... If Gary leaves, CFO may change Solicitors ....
The Directors need to start the thought process themselves which is "are we value adding to the business or are we just intimidating it with qualification and this is not even working".
"The principal activity of the Company is as an investor in new technology companies and reviewing new investments". The Directors are already proving they cannot locate any new technologies for investment purposes since CFoam, Innovaero and CarBon. 3 investments and all dud so far. Commerce graduates are expected to perform better than the regular investor, but still, with highly qualified directors, the CFO company can't find suitable investments? REALLY? I'm suggesting that's a pretence and outright defiance of investor funding for research requirement on behalf of its shareholders.
GARY, TODD & NICK, in the positions as ex-Commerce/Maths students, can they genuinely handle
new technologies sourcing? Should investors start to wonder if the 3 are fully COMPETENT in the roles and that possibly/ideally there are younger, more savvy GenY/Z leaders that understand or are educated in these
new technologies much better than what is currently on offer at CFO.
There's 8 billion people on the planet as a marketplace and numerous new technologies to discover. The business has cash, it's got a world of opportunity not being discovered nor sought by CFO's directors for further investment. Contemptuous behaviours need spotlighting.
CFO HAS DONE NO INVESTIGATIONS INTO ANY NEW TECHNOLOGY OPPORTUNITIES WHATSOEVER, else it should have been transparently stated to the shareholders eg. "CFO checked out 7 differing opportunities in the medical and education sectors and declined". CFO do not have to disclose names or geographical regions of these "opportunities". So there are great aromas of sensational laziness and you cannot miss aromas passing by.
The AR says in the end bit "The company will continue to review new business opportunities". YOU BETCHA BIG BOSS BOY TOTEM POLES - IT"S YOUR JOB THAT YOU APPLIED FOR, ARE NOT DOING and what a rudimentary "diversionary" statement to make - the pub test calls this BS.
Tatianna likes to blow her own trumpet too.....must be something the universities have students study in their first year "how to blow trumpet even though you are talking BS".
"I AM CONFIDENT...WILL TRANSFORM COAL INDUSTRY......TO BE UTILIZED IN MILITARY, AEROSPACE.."
BS TATIANA + CFO DIRECTORS. Any good honest Director would be able to see their downfall and step aside for the betterment of company/shareholders and if the Directors are not favouring this thought process, then they DO NOT HAVE the best interests of the business in sight and this is the reason the Directors of CFO need to have a shake up and transfer to new movers and shakers. How can we lose with new blood, as we appear to have lost anyway. We're suspended.
Bye-bye Directors. Shareholders, we need to try something, we have some $millions left for a new visionary Director with skills in new technologies and quals too. Do you want your money back or not? Take a stand all and see what eventuates.
Would this be a special meeting? Can we attend CFO Board meetings? I don't know.
cheers,
JJ
