Sorry to see mate, I know you have been holding this stock since...

Sorry to see mate, I know you have been holding this stock since 56c for over 4 years, thats brutal. I tried to point out to you a few times how things were going here, but was met with abuse, bygones be bygones, hope you can make the money back through some other investments.

As is often the case on the ASX, management of BOD have won, they managed to get great salaries and support themselves for years, whilst achieving sweet F all and shareholders are left with absolutely nothing.

Feel for holders, but if you can take some lessons out of it , then its not a total loss, its good to keep in mind that an overwhelming majority of listed companies in any given era are speculative stocks with nothing but hope and hype and almost all will disappear worthless, it really cant be argued as its data backed that 98% of stocks listed dissappear worthless.

So who are the real big winners with most of the stocks that end up worthless, its the lead brokers who make money raising for the company, the management and staff of the company who get paid great salaries along the way, before the company is worthless. Basically the theme is management win, shareholders lose, a sobering reality.

For me the lesson should be knowing how hard it is to get a winner, when you are in profit, make sure to take some off the table a long the way. And do a little research on the management, like in the case with BOD, you have a cash strapped company, yet the management are paying themselves some of the biggest salaries in the industry, whilst not performing for shareholders at all, thats a huge red flag:



Look at these salaries for this year! $372k for Jo Patterson, $308k for Craig Weller, $288k for Adrian Sturrock. I would take note of these people and never touch a thing they are involved with again. They were happy to pay themselves these salaries, while the company didnt even have $200k of working capital, and they were happy to dilute shareholders to get scraps to pay themselves even more before they wound the company up. Disgraceful.