Ann: Voluntary Suspension Extension Request, page-70

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HeadKandee

90 Posts.

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26/05/18

15:28

Post #: 33320687
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Originally posted by Basileus ↑

My criticism is the length of the delay and lack of information. On occasion, complex matters can take time to resolve - that's just the way it is sometimes. However, they ought to explain why!

My points of contention are based on the following.

1. The initial acquisition / arrangement should have taken in to account any difficulty around listing rules and disclosure requirements and dealt with them at the time. And if not - they should explain why.
Any company at this end of the market should be doing whatever they can to instil confidence in the company and its Directors.

2. The initial request for extension and the subsequent extension requests are vague and do not provide information of substance.

Whether people like it or not, I do not believe that these guys have a record of improving the value of the company for the shareholders. I refer to value here as an increase in company assets and cash / receivables etc. as opposed to SP increases which have little to do with their 'activities'.

I would encourage you and others to have a close read of the last quarterly. Then come back here and tell us how much they spent on 'administration' costs as opposed to activities that improve the financial worth of the company. The money spent on administration is, in reality, your dollars.

Do you think that it is more than curious that a non-holder like me is asking the questions that holders should be asking? After all - you guys have skin in the game and I would think that you would want to protect your position. I think that you can do this by asking the hard questions!

Even if you are a holder and adopt my position of contrarian questioning - what do you lose?

My tip is that this present problem might be related to something surrounding the transaction.

Typically, companies without a lot of spare cash will offer shares /options or maybe a CN and or a mix of cash to acquire an asset. If, providing shares / options forms part of the consideration for the acquisition, then there are rules about how many shares can be issued without shareholder approval (Chapter 7 - check 7.1). Maybe they have run into some issue with those requirements?

This is speculation on my part as I have no more information than anyone else.

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Wow. You could have just said "I don't know and I'm not happy about it"! Don't get me wrong. I love your point of view.

QBL Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
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