NET (ASX) Ann: Chairmans Letter and Notice of Meeting

Originally posted by country bob ↑

Well I printed off the whole Notice of General Meeting & Explanatory Memorandum and just read it all (while watching a recording of Jason Day winning the Wells Fargo in the background). Quite depressing really. I want to make it clear that I totally agree with Brett that this journey would have ended very badly without the support of Mr Tsiolis and Mr Turner in particular. So, thank you to them. Notwithstanding that, I believe the opportunistic nature of most of these resolutions to convert at pretty much the lowest value, leaves a very bad taste in the mouths of those who have been here for the whole journey. My options at 25 cents expired 31 October 2017 and just over 6 months later these people are picking up tens of millions of shares and options for how much - 2 cents! How does that happen? What information was the market fed to lead people to believe that 25 cent options were a good idea. If I remember correctly the shares cost about 17 cents and the options were 25 cents - note to self, make sure you only get options that are far less to exercise than what the share price is at the time (like all these clever people - how come their options aren't 10 cents to make them earn their money? ) I guess I just keep hoping that they will all be huge multi millionaires and drag us faithful long term supporte along picking up the change. At least I'll get my money back instead of getting a tax loss I don't need.

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They went to the market at .045c with promises that ended up worthless. They then keep raising at sub 2 cents within a closed shop. Clients of brokers could not participate in the latter.

I’d be really impressed if they had used their closed shop approach when raising at .045c and then gone to the market and allowed wider participation in cap raises below 2c..

Brett not sure how you think you are helping long standing shareholders... waving false expectations in front of people does not constitute helping... understating very poor behaviour as a bit average (like a footy player who is tough enough to take the knocks and puts himself above others in his worldliness and ruggedness in character) without actually having personally taken big hits.... now that is a bit average!

Being an apologist for the bloke you speak to on the hooter, who is increasing his control over and benefit from this company, month to month, is a bit average!

Attempting to quieten the justified disgust among long standing shareholders, for him, is a bit average!

It’s this mob who sold me stock at .o45c quite a while ago, not the last mob...

With the amount of stock that is going to be issued how the hell do you think the stock price is going to move to the levels (within the time frames) you have floated to Country Bob? If you really were capable of helping Country Bob you would have told him to sell his shares and told him to invest in one of the many other stocks on the market that have gone gangbusters since you started helping (and you would have quoted the stock)..

Oh, if helping was only as easy as you think it is Brett! Wouldn’t it be wonderful!