BPH 0.00% 2.2¢ bph energy ltd

Following the recent announcement of the oppression and...

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    Following the recent announcement of the oppression and defamation actions, I note that BPH Energy has 5,555,556 shares in MMR. This equates to $44,444.48 (at current share price of $0.008).

    There are a few questions that I think BPH need to answer:

    1. What is the expected cost of the oppression and defamation legal actions in the Supreme Court and the potential of a positive outcome? An article on the ABC website stated, a "no frills" defamation case could be in the order of $100,000 and more complicated cases would be above $300,000 (Ref 1). The WA Legal Aid website also states, “Even if defamation is proven, it does not mean the court will award you much or anything in damages” (Ref 2)
    2. How BPH has been oppressed and what the impact actually was/is?
    3. Who are the other parties to the oppression claim?
    4. How has BPH and the other parties been defamed?
    5. Who are the other parties to the defamation claim?

    And possibly most importantly:

    • Are the other parties to the claim paying an equal portion of the legal costs, or is BPH using its raised funds to cover all of the other parties’ legal costs?

    All of this really needs to be considered when taking on significant cases such as the ones that BPH has now entered into. Not only do the on-going legal fees need to be paid, but the loss of focus on the promised investments is a critical issue.

    It is also interesting that these legal actions are not included as a use of funds in the recent raising. This appears to indicate that BPH must have been oppressed since the raising otherwise you would think that the use of funds for this legal case should have been nominated in the prospectus.

    Can BPH confirm each of the above and why the legal cases were not nominated as a use of funds in the prospectus so that investors could understand how the raised money was actually going to be used?

    Ref 1 - https://www.abc.net.au/news/2018-12-20/the-true-cost-of-a-day-in-court/10610408

    Ref 2 - https://www.legalaid.wa.gov.au/find-legal-answers/your-rights/discrimination-harassment-and-bullying/defamation

 
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