Write your questions to the company secretary who usually sits on the board meetings to take the minutes of discussion and see if they are willing to provide you with a response. Write to a non executive director who is not connected to the company your concerns. I'd suggest Tim Turner as he is a Non Executive who is also a registered Auditor so he will understand his obligations regarding disclosure!
If you don't get success go to the next AGM and ask the board the question and if they refuse to answer the question ask the auditor who carried out the audit of the company these particular questions. Question their ability to sign off on the books without these disclosures being made if they refuse to answer your question. The auditor is responsible and accountable to all shareholders and is obliged to answer these questions if asked and has to attend the AGM so these questions can be asked of him/her.
What I will be doing is attending the next AGM and asking why does such a small company such as CFE who are going through a tough time at the moment only hold 4 board meetings in the last annual reporting period. I'd have thought that the board would want to be holding more discussions regarding the direction and strategy of the company on a more frequent basis than once a qtr. Other juniors I'm invested in have held 8 (LEG), 9 (MNC), 14 (SRQ), 10 (SDL). This to me shows a lack of interest or commitment to the company if the board is only getting together once a qtr to discuss strategy and direction. The world has been changing dramatically during this time period and we are being too slow to react to it...The cost of teleconferencing for board meetings is not much if people are travelling but given all the directors are Australian based this shouldn't be an issue in any case!
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