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clock Created with Sketch. 28/10/21
17:01
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Originally posted by flewk
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The relentless selling past few days has been very concerning. So far we haven't seen a lodgement of change in subholder notice, but one would expect this will be revealed soon. I've refrained from posting much of late as most aren't happy about my thoughts on the founder and MD. But it looks like whichever entity selling is either not confident on the Schrole 3.0 product or management, or both. I have addressed the fiasco last year when the board approved milestone shares to be issued to RG, and thanks to repeated queries by ASX, these shares were ultimately cancelled. However, the board went around this to implement new (and easier) milestone shares for RG recently. To me, this entire milestone shares scenario smells nothing but greed by the founder & MD. Let's also not forget the very generous renumeration RG has been getting for such small company. It's time RG stops striving to get himself sorted with shares and start thinking about ways to imrpove shareholder wealth. Clearly there is something missing here from getting bullish investors on the register and in my opinion it starts at the leadership level. I'm still very surprised that Faria has not appointed a board member after all this time and this also is an area of concern. There needs to be a change at board level or we will continue to see the share price linger around these horrendous levels. And I still stand by the fact that RG is a below average presenter and we need somebody else at the helm to perform this role. Schrole 3.0 really does look like an extremely marketable product and I sincerely hope this can help turn things around. But the product is not the only ingredient, it needs strong leadership that everybody trusts.
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Change is needed at board and management level. The earlier this is done the better it'll be for shareholders. Still scratching my head how staff costs can be over $1 million for the quarter. This is simply ridiculous.
