FFX (ASX) FFX Shareholders Action Group Q &amp; A

Originally posted by Cosmoterios: ↑

@hades86

This was you circa a year ago:

"Would've been nice if they did this before blowing their "fully funded" load and started the capital raise alarms.

I'll still be in profit because of where I got in, but I'm livid with this board for sitting on how dire the books were while MA was shilling with business on Youtube channels with finfluencer dorks and overseeing the LLL divestment which has now had the handbrake engaged with this dump.

I filed as ASX report over what I perceive to be s3.1 breaches of the listing rules. I don't give a damn about this board, my priority is to my capital aka investment. As should be any shareholders.

The only way to make change is to call the board out every time they step out of line to keep them on the level as opposed to sticking our heads in the sand and say "well hopefully they learned their lesson and will be for the better now". Hell no.

Anyone not angry and out for blood over this cluster is either in denial or doesn't see how egregious this is. That's not just my POV, that's a fact."

https://hotcopper.com.au/posts/62372826/singleIf you don't give a damn about this board and your priority is your capital back (your words).

Then shouldn't you give them a chance, by listening, reading and offering constructive advice about how you are going to get your capital back?

After all, you guys are All in the same boat!!!

Note: you guys are in this predicament because you relied on this board to manage your investment - and despite all their experiences in managing African companies, they lost circa $250M in shareholders capital, within a period of 2 years!!!

That is the type of "Experiences" you had relied upon!!!

So you should ask yourself this: could you lose more of your investment capital if you continued to rely on them???

IMHO, if you really want to get as much of your capital back, then it is in your interest, to ask pertinent questions to both sides, before deciding.

AIMHO

Expand

Just because I'm not happy with the board doesn't mean some rando I'll be willing to jump into bed with a rando in over his head stock pumping forum because he talks a big game but doesn't have the prerequisites to run an ASX listed company, much less one with this market cap.

I'm prepared to write off this investment because holding it this long was clearly the wrong choice and the company is DOA. The only issue here is what happens next. They say they're in negotiations and I'm ok with that despite not trusting them.

Companies are under no obligation to disclose any negotiations due to hefty NDA's in place in talks at that level. They are under no obligation whatsoever to disseminate the info to me, you or anyone else due to how sensitive these talks are. I've been on both ends of those when dealing with contracts and tenders and it's nothing as unusual as the conspiracy theorists here claim.

Now if the talks are a smokescreen/hot air? Maybe, maybe not I don't care. That's the name of the game when investing so if you're that bent out of shape over a small cap then think of it as a life lesson in being prepared for an investment go belly up. And this isn't even a safe/low risk one either, FFX like most small caps are the very definition of a high risk/high reward stock which are a dime a dozen on the ASX.

So when I see people padding their stats as "investors" using FFX as an example of their experience, I think they don't really understand how that truly reflects in the face of what's happened here. The red flags were all there, we just took risks and got burned. Some with just singed fingers and others headfirst it seems.