OVT 9.09% 1.2¢ ovanti limited

Any long term investor knows the story here, the directors got...

  1. 8,191 Posts.
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    Any long term investor knows the story here, the directors got greedy, took the money as directors fees and just walked away believing the income stream would just continue without any oversight.
    The situation changed, the funds apparently disappeared, the BoD threw hands up claiming "its fraud", and 4 weeks after the discovery it's still alleged fraud with no evidence and no success on tracking down not even $1. Why is that?
    Are those loans written to non entities since 2021? Which bank accounts did the funds go to, or was it all cash only?
    Where is the mention of any of this in the audited accounts? How long has the management team held no stock and where is the holder notices?
    What was the deal with Dunlop, Pimpinik and Aspire?
    Why have restated audited accounts not in the updates? Surely by now they would've reviewed 2019/2020/2021 data by now.
    Where is a copy of the valuation documents for Sibu Marine and IDSB and just whom did those valuations?
    And finally, how much of the $50m CR actually went to the company accounts and why were the attached options (managing agent) delayed and or not compensated for at time of deal? (This one reinforces a culture of disregard to everything, it clears the mind that borrowing funds and not paying back or not adhering to agreements is the team culture) but I'm glad they didn't, it bought exposure to the issues of fraud known today- thanks Clee team.
 
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