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mike31993

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09/01/19

17:21

Post #: 37071627
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Originally posted by MixedBag ↑

Mike, I don't mean to be rude, but a few of us have been warning you for a long time. I lost a sh*tload of money on it, and eventually sold, when the warning signs were flashing like a Christmas tree.
The auditors don't want to sign off on the books. No surprise. The first thing that ASIC should investigate is whether the head office deals from last year were "At an arms length" because to me it appears the management were investing TTC funds for "potentially " personal property deals. No risk to management's personal cash but a lot of risk to TTC with what appears no financial benefit in hindsight to the TTC shareholders.
Secondly, it is obvious TTC can't get $$$'s out of China, hence this flakey announcement of nutraceutical sales agreements - I know China very well and TTC shareholders aren't going to get any dividends because China wont release money out of the country - it is even near impossible to hide wads of cash between your a cheeks now as the pat down at the airports is so invasive.
Other disclosure issues include - us not being told when commissions and contract agreements had been modified and had significantly affected the profit margins for the businesses in China - TTC waited for the annual report to tell us this. This was market sensitive news.
As for the Australian-based directors - they were just like pigs in a trough - probably had no say in the running of the company however they were happy to collect their director's fees until the auditor has stepped in now. Not must ASIC can do but investigate the company and potentially keep it suspended until investigation is complete.
Good luck shareholders, but I think it may get a whole lot uglier.

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anyone who has lost money on this post try and contact [email protected]

TTC Price at posting: 5.8¢ Sentiment: None Disclosure: Held
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