are nusep shareholders doomed?

  1. 867 Posts.
    My reading of the most current events, of which we hardly actually know any, is that the company is being controlled by a few individuals, who have allegations of illegal and unscrupulous dealings, put by some very credibal sources to the regulator, ASIC. These allegations have not been answered by the board, so we can only assume that they are ongoing. The only independents on the board either left or were fired en masse 2 days before an AGM. 2 of those board members were elected less than 1 year ago at the behest of the chairman. From last year's AGM, we have only 2 board members remaining. They have been on the board FOREVER and are not independent and may well be judged as the problem, rather than the solution.

    This company has never had a single successful business line or business.

    The share price is down ~50% over 1 year and over 99.5% since it first listed.

    The only 'profit' the company has EVER MADE was created through revaluation of an asset, which was subsequently value DOWN in the following more than it was revalued up and the 'profit' seemed to come in a year when there were contractual bonuses paid to....you guessed it, the 2 long-standing board members.

    I think the score at the beginning of last week was;
    Transparency 0
    Shennaigans 3

    I think it is now;
    Transparency 0
    Shennaigans 10

    How are we ever going to break free from this and have the IP succeed?

    Good luck to all, because I fear we are going to need it.
 
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