Happy to :)He has been a majority holder in the business on and...

Happy to

He has been a majority holder in the business on and off for quite a while now depending on the size of his pump and dumps. It aggravated me no end that he was allowed to get away with it despite lodging reports with ASIC due to him not divulging his change in substantial holder status.

Then I look at it from his point of view. He has given money up twice now to TV2u as a soph investor, no doubt would have been given information from the company that has not come to fruition. In all likelihood, if I had his fund would do the same. I would have cracked it at the company failing to deliver time after time for so very long. What he has done is just smart, he is just taken it upon himself to make money by making his own pump and dumps with huge amounts weighing on the buy/sell. He is no longer reliant on their success doing it this way, I am slightly jealous to be honest.

Being aboard member now is interesting, he has bullied his way on to it, no doubt. For Nick gives him a chance to as they say, keep your enemies closer. He is also now legally obliged to divulge any change in ownership to the market or risk placing the company in trouble and therefore his folio at risk. He has a good financial and operation history, something that is lacking on our board, so all things considered, I am now happy he is on the board. I will be looking forward to meeting him at the next meeting!

Talico IP is a win win. It costs TV2u nothing and we only pay if it makes money. I don't see how this really could be looked upon any other way. It gives tv2 other avenues for revenue and no outlay to the company.


Hope that answers your questions...