Shareholders should be enraged at the incompetent MD and the...

Shareholders should be enraged at the incompetent MD and the incompetent board for destroying shareholders wealth.
No competent business entity will lose $1.57 for every $1 received from customers .
They receive $1 from customers which is less than the $1.02 ( manufacturing and costs) to produce it - what a moronic business plan?

The Tranche 1 Placement to raise approximately $833,000 through the issue of 45 million new Shares in the Company at $0.0185 per Share and 45 million Options, to new and existing sophisticated and professional investors is a big slap to the faces of retail shareholders -

• The Placement was undertaken by the Company with broker support for new shares subscribed for by new investors. A 6% broker fee was incurred
• The Tranche 1 Placement were gifted with the following advantages over retail shareholders:

Securities will be allotted on 5 May 2025 for them to trade almost 2 months ahead of the allotment for Tranche 2retail shareholders.

2 NEW DIRECTORS - Mr. Anthony May and Mr Patrick Cook were invited to join the board

New bulldust fed to retail shareholders:

• Board Chairman John Keith said “Following feedback shared during the November AGM, andin consultation with significant shareholders, we believe that the actions we are taking result in a leaner, more agile company, one better fitting with the current business environment. The Company’s priority is to bring about growth and so accelerate generating positive operational 0cash flow.

Only morons will sell products at a loss of $2.57 for every $1 received from customers. It is a fail-safe recipe to destroy shareholders wealth.

• Managing Director John Kelly said “We are excited about our future. We have over the last 12 months with great rigor reviewed all projects and roles within the company and prioritised what will deliver the biggest impact for Atomo. I am confident we can deliver our most important strategic imperatives whilst running the leanest possible fit for future organis0ation”

Shareholders should demand the remuneration board cut his pay or sack him for destroying shareholders wealth. The impact this CEO & Board did is to lose shareholders money at an accelerating rate.