Hi
@708Let me address some of your points:
"They had the option to participate"- Agreed.
"... due to the CR being oversubscribed they did the right thing by existing shareholders by allowing full take up by existing shareholders"- Interesting. Can you please point me to some announcement or evidence saying that they didn't participate because it was oversubscribed and they didn't want shareholders to miss out? I haven't been able to find any evidence as to the reason for their lack of participation.
- If we are throwing out wild ideas in the hope something sticks, might I suggest their lack of participation could have been due to the fact, that they rely on these capital raisings to keep the company afloat and keep paying their large, rising wages, knowing full well profitability is non-existant both now and in the near future?
"... its not their fault the global market tanked in the last 12 months"- Agreed
"... shareholders were repeatedly offered the opportunity to withdraw funds even with that the CR remained oversubscribed"- Yes they were. Congratulations to those that got out, or sold at the first rise.
"... yes its disappointing but it could have also gone the other way"- Agreed.
" stop complaining and take responsibility for your own investment not others. they dont have to buy shares on market to satisfy CGB shareholders anxiety..get a grip imo"- I'm not complaining and I take full responsibility for my own investment.
- Did I participate in the capital raise? No I didn't, because by that stage, I didn't have full confidence in the direction the company was headed, and started to see cracks appearing. So I don't really have anything to complain about and in 100% control of my own investment.
- Did I sell out at the subsequent peak? No I didn't. I honestly believed the Costco order was a turnaround. However seeing the subsequent financials, and seeing that the revenue generation is actually loss-making revenue (rather than profit-generating), with poor cashflows heading forward and nothing but further capital raisings needed to keep the company afloat, I quickly exited. I exited my position at an albeit but still nonetheless profit (~10%). I've got nothing to be anxious about or angry about - other than not taking the opportunity to sell at 5X at 11c or 2X at 5c but hey, live and learn.
The point I'm making here, is I'm calling the company out on their hollow invitations to contact the company directly to answer non-market sensitive and non-proprietary information. The company is quite keen and proactive to answer questions on here that make the company look good, but as soon as a valid question is asked which the company may not want to provide an answer publically, they fall back to the "we extend the opportunity to contact the company directly"... then when you do, you get no response.
Simple.
