FG told a fellow shareholder after the AGM that all monies owed from Safenet were "in the bank". Probably just another lie from the great one but if these amounts weren't in their FY results for 06 (hence their missing forecast) and are in the 1st half of 07, how can they forecast such a loss range for this half?
Just more mixed communications from the sen machine that not only doesn't add up but is misleading to investors and supports my long term belief that whilst sen has the potential to be a great stock (in terms of SP), internal priorities and strategies continue to be about lining the pockets of the few (and the same few) and not being in the best interests of smaller shareholders.
Their announcements at the AGM (forecasting a drop of 15% for this half earnings), yesterday (revising this to anywhere from 50-75% downgraded or more), as well as their dodgy and "cryptic" announcement about the capital raising and selling 21M shares by the top 3, all add up to reinforce the need for ASIC and the ASX to investigate on behalf of ALL shareholders and ensure full disclosure of their plans.
If this deal is also linked to other conditions of further sell-downs by the top 3 for above market price ($1-1.50), these should also be disclosed NOW to deliver value to investors in a reasonable timeframe.
These shinnannigans may suit the long-term holders but others should be given the option of selling down at a reasonable market price - of which we are well below according to scuttle-butt leaked from the company through exclusive channels.
Stop the arrogance and get real with the market, or sell out to someone (IKL??) who will do so!
SEN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
