Ann: Notice of Annual General Meeting/Proxy Form, page-3

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Teddyward

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13/11/22

09:55

Post #: 64740570
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Originally posted by elitelifestyles: ↑

Thoughts anyone?
Russo against and wants company to operate as it has previously....well that didn't go too well did it so what makes him confident it will this time?

Reading between the lines other directors seem to want to sell assets, get some cash in the bank and then recapitalise it into something else - Issues here are: will something else be better? will it lead to a drawn-out legal battle with Russo? How much will our present holding be diluted? How much will the average shareholder be able to participate in any new raising?

Knowing both camps the other option of just selling the assets, winding up the company and returning money to shareholders so we can claim a loss will likely not be entertained as they miss out on opportunities only available to insiders. I recall prior to suspension there was asset backing more than the current share-price - I'd be happy with a 5c return at this point in time!

Think seriously about attending the meeting or submitting questions you have. It's no use winging afterwards, this is an opportunity to be heard, seek information and make a decision. I have a reasonable holding (many millions of shares) and am on the fence at this stage.

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I thought the IP and assets were already gone?
I haven't followed closely recently this car crash as I luckily avoiding having a punt on it.

2BE Price at posting: 4.9¢ Sentiment: None Disclosure: Not Held
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