This isn’t a real public company Matvert. This is a trough from...

This isn’t a real public company Matvert.
This is a trough from which the controlling family feast their snouts in.
They have no interest in reducing the related party transactions!
Where they have cut costs, been in other areas, consolidating their costs at the core of the business.
Even after the level of value destruction of other shareholder funds they have overseen, they don’t care.
Just look at the CEO’s remuneration, massive overs for a loss making $40m market cap company.
Notice how he takes a large base and pretends to be heroic by not taking short / long term incentives.
That is basically as he knows they wouldn’t be able to hit any of them, so doesn’t bother.
It’s one of the key reasons that Fund Managers won’t come anywhere near this now.
The Chair and the other Directors are really just their to keep the trough full.
This is not a real turnaround story, it’s a continuation of what got us here in the first place.
I had always stayed away from it for the related party reasons
But I was silly enough and finally invested about a month before the $h!t hit the fan.
Serves me right and that’s on me, but let’s not pretend this is a real turnaround, while it’s still a trough.