I think it's time shareholders sent a clear message to management that treating investors in the way it has is simply not acceptable any more.
The only way to do this imo is to vote no to this resolution until such a point in time as we are treated with a semblance of respect.
Even with Ben on board there are some very basic questions that the company seem unable or unwilling to answer.
- what is the current status of the 5 POCs that were announced to the market in ASX announcements. Remember capital was raised at 5c based on this information. I believe the rules of continuous disclose require the market has to be updated on these matters. It's a very fine line from where I am looking.
18th Jan 2016
"Over the next 2 months the company will focus on targeted development efforts with 5 different customers"
01 March 2016
"Proof of concept (POC) trials planned by five large enterprises and governments" (p.5)
15 April 2016
"By way of an update on the current POC's" we do have a number of POC's underway
- If the product is ready to sell why have investors and potential investors not even seen so much as a screencast or screenshot? Treating stakeholders and potential stakeholders in this way damages the companies ability to raise capital at any meaningful price which is simply unacceptable.
- Why did the recent investor presentation contain absolutely no information that potential investors expect. Market cap, peer analysis, strategy, roadmap etc...
- Why do we still pay for an investor relations function whose only job it seems is to deflect meaningful questions away from management. At this stage in a company management need to embrace investors directly and not treat them like disobediant children.
- Why are we looking at acquisitions again? There should be no acquisitions IMO until management have shown they can manage the current product and have a MC of at least $50M. If it's a copy paste error then shareholders should be updated with the real reasons.
Let me be clear. I very rarely vote no to any resolutions for companies I invest in. But I will be voting no to this. Until shareholders are treated with respect as part owners of this company I will continue to do so.
ZYB Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
