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clock Created with Sketch. 07/07/24
22:12
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Originally posted by KamikazePilot:
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For a supposedly relatively good report expected in August share's fallen as much as they have sure doesn't suggest it . Seems news of the successful law suit against Mayne may have brought on heavy selling , cost to us after taking into account former management's hopelessly inadequate insurance cover . For a supposedly expert strategist where was Condella one of the senior executives on the board couldn't he see we were woefully under insured for events such as this and what did eventually occur . We not long ago got information back from management after enquiring about heavy selling , management 's reply back no idea / don't know or words to that effect if we must split straws , now we get get news of this settlement which would have been known by management , lawyers would have been in negotiation for some time with them before news broke . They knew alright what was behind the selling and others , always people that know before sh.t hits the fan . Only hope in August things are as good they suggest they are especially cash reserves that's massively important . We don't have assets worth speaking about to use as security ( forget Salisbury probably mortgaged to the hilt ) if we need support . The successful law suite against us we can ill afford we're more than likely burning through our cash reserves like there's no tomorrow . How far off are we before we become profitable , does anyone know ? isn't that a reason for concern .
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risk management is huge part of the Board responsibility...Condello and BR were part of this all along as well..
(20min delay)