I'm livid that they have only $5,000 invested each. I want to know who tipped in on all the other capital raising occasions was it only HML/BHD? https://www.nsx.com.au/marketdata/company-directory/capital/JBL/I just don't see how continuing with HML on its own will help since we will still pay extraordinary fees on low yielding assets. I was quite happy paying the large fees for active trading, but cannot fathom why they need to charge so much to hold their current portfolio of loans and related party assets.
"Is it possible that the plan isn't aligned with shareholders interests?"
Yep, this is my primary concern at the moment, but what do i get if i stick around with HML? Winding up HML will force the sale of a large stake in JBL and JBFG. Who is going to buy? Probably JBL for cents on the dollar (if that).
As it stands I don't see evidence of embezzlement etc (although there is no way to know). Stuart loaned money to JBL not the other way around, that's not a good way of getting money out of a business.
I'm probably still 95% sure that I will remain with the offer. as @jim.rogers said "Actively cheering on the destruction of the company wont get our money back." I think pushing for a wind up would net us even less than moving to JBL (although i understand people want to crystallise a loss). Maybe I'll put is a buy order at $0.00008 and see if John Hawkins & Henry Avery sells their stakes to me. I've always wanted to be a CEO.
