IMO casual opinion, although now an unvoluntarily unlisted company, they do need to provide an AGM. I'm fairly sure that's categorical, and if so, I guess how do they inform shareholders of any resolutions? Where were the non-executive directors here and what does Nexia Sydney & HLB Mann Judd know? An independent forensic audit would be handy, but who is going to prepare, fund, be bothered and lead such a campaign. By the way, picking on Neil is adolescent behaviour IMO - he's been one of the kittens that were used and behind the scenes as a vol. Mod, some time ago now, we felt for him, knowing full well where the TOUs of many years gone by were coming from, and why.
However, the law is the law yet sometimes, may be ethically broken.
This type of behaviour may not constitute an offence.
In the main, it's a fair idea IMO to write this one off in your mind and even, financially too.
Personally, it's a new step backward for me in my own individual decision making process, as I've never seen a registered ASX entity not comply with ASX rules and regs., seemingly purposefully for so long. A public entity that was well funded, had no debt, no legal liabilities, assets, and a business plan. One that released so many expectations under a forward looking statement mantra that claimed so many expectations and aims. I take pride in my informed decision making, but yes, the balance sheet was fine but I did not understand how uncomprisingly low, this team could go.
Never have I seen this before, and I've noted some wicked entities in the decades long gone.
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