I can only agree with everyone's concerns here. Why are we...

I can only agree with everyone's concerns here. Why are we paying the board and giving away shares and then some are forfeiting them in favour of cash as follows:

" These Restricted and Performance Rights were not issued in the 2018 financial year as Connie Mckeage elected to forfeit these rights in favour of a cash-based salary payment of $24,000 and a cash bonus of $25,000 respectively."

I am not surprised I would also prefer cash if this is the way this company is going to be managed. They had a responsibility to ensure we were protected - the way I see it the first agreement did not protect us and the one in November we have no idea if it does. Personally and purely my opinion - I have no idea what to expect but forget the rubbish about 20-mile journeys and don't imply that the $31 million is not needed its a huge amount of money. A lot of people in this company should be looking for somewhere else to work in my opinion. Is the debt secured or are we to read into this that we don't know or that we don't even know if we have the right to get the business back that we effectively got $12 million for.

This business Sargon was said to be a strategic partner and we seem to know nothing about their financial structure or ability to be a worthwhile partner. They have failed to raise funds on a couple of occasions and since then seem to have become embroiled in more issues. These are all huge concerns that needed more than one interest payment being received. The big question - Did we receive the interest due on 31 January ?- surely that is a very crucial question. Silence does not suggest that they did make the payment.

The share buyback was supposed to be funded from this and guess what we are now not linking it to that and are going back to the dividend being funded by the sale. I am slowly getting to a view that maybe this is made up as we go along.

Security and partnering with other businesses is the most basic core competency of management and both seem to have failed us.

Best article subscription required:

https://www.copyright link/chanticleer/sargon-hits-a-snag-after-cash-dash-20200130-p53w9s

Issues with ASIC:

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-301mr-asic-takes-court-action-against-super-trustee-promoter-and-others/