DUB 7.50% 3.7¢ dubber corporation limited

"Shareholders – including billionaire Alex Waislitz and the...

  1. 50 Posts.
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    "Shareholders – including billionaire Alex Waislitz and the company’s board, led by Victoria Racing Club chairman Neil Wilson – thought the money was in a bank term deposit until the issue was discovered during a regular half-year audit."

    The issue was not discovered during an audit. It was discovered because Dubber no longer had the funds to pay their bills. This is why they had to get a $5 million loan from Alex Waislitz and a $40,000 loan as detailed in their last quarterly. It is nothing more than a fantasy peddled by the board that Dubber had the processes in place to detect this theft

    The article posts the following quote from Steve from LinkedIn:
    "To be able to have a mobile call, and then at the end of that call, have the Action item summarised and sent to you on an SMS. That is a true demonstration of revolution in the sector."

    There is no currently shipping product from Dubber that has this functionality. And if they were to announce this product, it would take 6 to 12 months to make its way through telco billing systems and to get telco sales people ready to sell. Meanwhile, Apple will have this functionality in it's latest iPhones this year, and can update and enhance it without telco's being involved. This functionality coming to Samsungs and Google Pixel's can't be far away

    "Dubber, according to its website, was born at a casual gathering of friends including McGovern in around 2011 after Optus had been ordered by the consumer watchdog to record all in-bound call centre traffic."

    Optus had been ordered to record all in-bound call centre traffic? Didn't we have ASIC notices in this forum showing McGovern and Slaney's business being ordered to record calls due to them misrepresenting phone deals?

    "But according to a high-level company source, though shareholders didn’t know, Campion had been entirely forthcoming with the company. On June 30, 2016, Campion pleaded guilty and was banned from being an officer or director of any share issuing entity."

    Three of the current board members have links to companies that Gavin Campion was involved in. Neil Wilson is a non-executive director of Knosys, Gerard Bongionio was chairman of Linius Technologies and Peter Pawlowitsch was a director of Knosys. The only board member I can't find that has a link to a Gavin Campion company is Sarah Diamond, and I remain convinced she was only brought in to get a resolution in the $8 million dispute with IBM, which still hasn't been resolved nearly 2 years later

    "At McGovern’s home in Warrandyte, two caveats were placed on the property by Madafferi clients two weeks before the Dubber cash issue was discovered."


    And according to the last quarterly, James Slaney's parents sent a letter to Dubber asking for $1 million to be paid back in December last year. People knew what was going on with Steve and Dubber's money, and wanted to get what they could before it became more widely known

    This article reads like a plant. It focuses on the more criminal bits - Dubber's cash being used for short term loans - and paints the board as having to clean up the mess and find a way forward. It seems very in line with an earlier post where someone went for a job interview at Dubber and during the interview they painted all of it's issues as being caused by Steve McGovern. The board oversaw the mess. The article comes out about a week before a meeting where shareholders have to vote, among other things, on a 10 million share issue to Peter Pawlowitsch. There's more than a little PR going on in this article
 
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