Ann: Appointment of Apex Geoscience & CEO Resignation, page-60

Im having a whinge. I know. But i didnt do as much research before investing as I did after investing. Now i cant get out. Not much I can do about it but theres this gnawing feeling in me. Rita and husband set up an asx listed company back around 2006. Sells the company their tenements (which turned out to be rubbish). Rita gets a nice wage from Berkeley for years. Seems its rinse and repeat here. Sets up TMB. Sells it her company’s (Baracus) tenements. Is knocking back over $200k consultancy fees a year ($1,000 a day for work related to her role!) plus board fees. Baracus also gets compensated historical tenement costs. Seems Rita is never out of pocket. Pays $50k to Minrex for what are most likely rubbish assets to give reason for a cap raise to keep her earning $250k for a couple more years. Yes, she has 31% shares but its the consulting gig thats her golden ticket. She’s done nothing in two years for shareholders. Her board is down to 3 people. Man, I’ve taken a bath on this one.