the "market" is still loaded with many companies that have very poor management (track record) who are often only interested in drawing a significant income + stock + options + whatever else they can. this income is often generated from shareholders funds (equity) whilst the business is meant to develop into a cash and profit generating situation.
Often referred to as "lifestyle" companies they are a bane and a wart on the face of the investment landscape. they have wasted valuable capital often chasing useless projects and ideas into the drain.
The ASX, ASIC and the Australian Shareholders Association (who supposedly represent the interests of retail investors and have been doing so for the last 50 years) should man up and get very tough with the trough end of the market.The quarterly reporting is farcical and can hide all sorts of junk (that's if it is lodged on time). There should be a monthly reporting structure for small caps with rigid lodge by dates for all reporting - fail and get suspended - fail further and get de-listed - END OF STORY. Let's push to get rid of junk companies and get officers of those companies banned for life not just a few years.
ITS OTHER PEOPLE MONEY - MAKE THEM RESPONSIBLE!!
PDY Price at posting:
3.3¢ Sentiment: Sell Disclosure: Not Held
