The CFO doubled as the Company Secretary. As the Company developed and grew he did not have the appropriate Company secretary skills for the larger entity. He didn't realise it and the Board failed to see it - they were asleep at the wheel.
Now they have outsourced the Company Sec role/function to consultants and the previous CFO/CS has retreated to be full time CFO. The price was a month in suspension as well as expenses.
Since lifting suspension the share price has dropped about 20% and going down. No new revenue - and while there is no new revenue announcement it will continue to go down. Those who said it was going to fly to dizzy heights will point to TNT and the like which have dropped to try and defend their prophecies. The performance of management can only be described as fair to poor. They need to pull their socks up and find revenue else this could move into "dog" territory.
AR9 Price at posting:
25.0¢ Sentiment: Hold Disclosure: Held
