wow all of this for a measly 2.2mil of suspected fraud?!
- A year of good-will damages with shareholders/stakeholders
- tainted relations with china
- wasted resources detracting from getting on with the job
- shareholder spent funds uncovering this fast when if basic governance was there to begin with it wouldn't have been necessary.
- most of this has likely been pumped to save LF or could have been put down to a relatively cheap education on language/cultural barriers and moved on with
Sorry, I've tried staying up beat about this - but 2.2mil pales in comparison to a mis-represented cap raise and LF's pump and dump to exit with a nest egg for retirement of 25mil.
They honestly should have done an internal review, got roughly correct on the fraud numbers (if legitimate), came to market with a conservative estimate and got on with business as usual, would have made that 2.2mil back plus some without this hanging over its head for 12 months.
The fact they have turned this into such an extended witch hunt when these ball parks were probably known 10months + ago at least, only adds weight to the idea of extra drama to justify the CR and LF's convenient sell off.
Really hoping to be proven wrong tho and the promises of profitability kept.
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wow all of this for a measly 2.2mil of suspected fraud?!A year...
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