This right here is the problem with the ASX and tech stocks. 1PG...

This right here is the problem with the ASX and tech stocks.

1PG never had a viable business model.
It was and is a glorious SAAS app trying to capture recruitment market based on no USP.
The business was built around the tech hype and the lax reverse RTO laws essentially a vessel for a pump and dump.

The question is why take control now ?
what made them decide that its time to wrap the company up ?
Why leave a few on the board and remove other directors ?

All questions worth pondering over.

Startups are hard.
Perhaps far beyond the comprehension of some of these people that run broker firms.
Startups happen trying to solve a problem in an information dense area.
Some of these tech companies listed on ASX don't even have an MVP.

As a retail shareholder, one should also ask the question that if they failed to recognise the possible failures of this company early on what makes them more qualified to bring in another company that will be successful.

The shell may hold value because it has cash but some of these people have lost credibility of recognising tech startups.