Look I know this is going to sound like an absolutely insane concept to a company that is used getting its funding from doing discounted capital raisings to insider mates. But how about this as a funding alternative, actually execute your duties as directors of this company and ensure it conducts its business according to its objectives as set out by YOU the board, create and list companies and MAKE A F***ING PROFIT!
When do non-insider shareholders actually get to see a return on their investment Nick?? Or is the goal as usual to see them screwed over to the benefit of Insider mates???
Here is a warning to anyone looking to invest into companies, enterprises, subsidiaries, businesses whatever that are controlled or influenced in any way by Nick Mather or groups associated to him. Think very long and hard as history will show you will eventually be screwed over to ensure that him and his mates benefit at your expense.
If the result of this so-called “strategic review” comes back with the idea to take on debt (Including convertible notes) instead of equity, it will be clear for all to see that this board is completely out of ideas and it is time for someone else to have a go.
Debt is a wonderful thing for good profit making and cashflow positive businesses as it will generally come on good terms and help them to grow. Debt for businesses like DGR with no profit or positive cashflow is a horrible idea as it will come on terrible terms. The last convertible notes had a conversion price of 20c everyone thought what a wonderful deal they have done for us here. What ultimately ended up happening was when they fell due the company’s share price was crap and they had no money so had to do an equity raising at 8c which became the “effective” conversion price of the note (not including the horrible 12% interest rate or whatever it was that tribecca collected along the way).
No more of this rubbish can be tolerated from the board and management of this company.
I am happy to vote my shares towards any movement or resolution that puts the wind up these clowns, it would obviously have no chance of winning a vote but it would certainly create some unwanted PR and scrutiny of the company’s activities. I would love to take the lead on this but am very time poor at present.
Apologies for the length of this post.
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