Ok. I have just lodged a complaint on the ASIC website as follows:
Directors mislead market.
1) CEO (who was previous chariman of the board of same company) gave misleading forecasts about company quarterly performance. Missed recent guidance by some 40% with no market update. Company shareprice dropped some 40% upon learning this, and a futher 20% the following day. This news was significant and deserved a shareholder guidance update. Reasonable investors took the company at their word and invested heavily. The directors have failed to execute care and skill in their roll.
2) Mr Ratty, non-exectutive director, resigned from the board merely weeks before this annoucement. We have found out that he did this so that he could sell his shares (no longer in the top 20 register) without needing to disclose it. This amounts to insider trading.
3) The CEO has been making a road show of announcing that the company would no longer need any capital raisings. The company pumped a heap of dubious positive announcements to attract interest, and then suddenly announced a capital raising to everyones' dismay. Please check the company's youtube channel to see just how publicly he declared no further capital raising. He has bait-and-switched a number of us, now claiming the CR is for product development. A lot of reasonable people have been mislead by his actions.
My complaint above represents the comments for some 20+ individuals who are shareholders and I have been chosen to submit the complaint. This complaint will be published on popular Australian share trading form 'hot coper' for all interested parties to see at this link:
https://hotcopper.com.au/threads/class-action.4330460/#post-34680170
We are actively discussing a class action too.
These matters are of serious nature. The company's market cap has gone from some $80m to $30m overnight. We have all lost a fortune due to the inepet directorship of the board and their failure to disclose such critical information.
We thank you for your help.
(20min delay)