It seems the idea was to use shareholders as a sales team!...

It seems the idea was to use shareholders as a sales team!

"TikForce chief executive Kevin Baum does not have a regular sales team. Instead, he wants to get his troop of more than 1000 shareholders to act as casual sales staff and make client referrals in return for a fee." (source: AFR May 12 2016).

This was to "reduce costs by up to 80%". Given the high burn rate, it's hard to see how that prediction was justified.

With, as aabbaadd pointed out, now just a few days before the 40% cut in the MD's salary, and only a few more days to the AGM, I would have thought a trading halt might be called to let them get their ducks in a row. Hard to stand in front of your shareholders when the stock has tanked and you've just taken a performance-based 40% hit on your salary

Perhaps it's too late for that?

At the time of writing, an encouraging bounce back to 2.1c from 1.6c on the ASX but still at 1.6c on CHI-X.