BPAM Asset Valuations and Income

@blackspot12,

Have just had a number of emails from Darren Flew CFO in relation to Valuations

As we know BPAM received $2.4 Million from the valuations of $200 Million this year alone.

I have always wondered how Bestons is valued at such a high asset value and the income for BPAM is being derived from this excessive figure. The first situation has arisen with the sale of 32% shareholding in Ferguson Seafood, where we can see how accurate these valuations really are.

Darren Flew advised the actual 32% shareholding sale was $300,000 without the property, I question him on what the valuation was to determine BPAMs income, he advised $1.1 Million for the 32% shareholding alone.

Now here is the problem, if this particular asset was valued close to 4 times that of the value it is really worth, as we have just seen this figure in the sale, how accurate is the overall valuations of the Bestons by BPAM of $200Million.

Remembering BPAM the private company are in control with the Owners being the chairman Roger Sexton and Director Stephan Gerlach, with Darren Flew CRO and Jonathon Hicks CEO both being salaried by BPAM, no wonder no one is questioning these ridiculous asset values, in which millions of dollars in income is being received by BPAM.

Could the assets be worth only $50 Million as that is 1/4 of the $200 million, similar to the Ferguson situation, meaning BPAM is stealing $1.6 Million in income on fabricated values, imagine stealing $1.6 Million from a bank you would be jailed for 10 years but from shareholders, apparently that is ok, and this has been going on for 4 years. This is actually beyond a joke.

It may not be as low as the 4 times like was the case with Ferguson Seafood, ,but I am betting about half the valuation is fabricated, which still equates to $1.2 Million fabricated income this year alone.

If this isn't corporate misconduct nothing is, and full investigation needs to be conducted away from the CFO, CEO and Board of Bestons, preferably by @ASICInvestigati,@asic as all shareholders of this company need answers and something needs to happen before the AGM this Thursday