Cash on hand should go back to shareholders. Staff have got their feed that is for sure. Unbelievable wages/staff costs for what they activities were. 108,000 on advertising and marketing? What advertising and what marketing?
How to throw away investor money 101, the new book title care of the HMO board.
Seriously, by listing and accepting money through IPO and ongoing investment, they arw running on investors money. And obviously that money is being spent on nothing to add value so it should be going back to investors, and IP sold off if it can be... Really not fair that this company can wind down now spending investors hard earned on nothing...
Not a holder myself in the end, but they should be justifying these expenditures.
Particularly staff and what they are paid for, and god, the "advertising". Maybe $100,000 these days only buys you a few logo mock ups, but the board approved that money going out.
Sorry guys here who had high hopes like myself.
HMO Price at posting:
6.8¢ Sentiment: None Disclosure: Not Held