The owner of Gelda is obviously a very clever individual as he...

The owner of Gelda is obviously a very clever individual as he seems to have made a lot of money.

but I do wonder if he or his lieutenants have really had a hard look at Oliver's and done the same due diligence and had a close look and understanding of Oliver's history like the E.G. Group did, who then walked away from their 10 cents a share offer.

Oliver's started out in 2005 at the Northern Wyong site which was a natural 1st stop for a toilet break, stretch your legs, coffee and something to eat after a 2 to 3 hour drive from Sydney.

The Wyong site could have sold any food items and thrived to this captive audience.

It would appear excessive euphoria, excitement & naivety followed as the owners thought they had invented the next "jackpot" in the food revolution, offering so called healthy food. Wherein fact their Wyong location was the key "jackpot".

Lack of common sense, lack of market research, lack of really understanding fast food outlets would have told the owners a different story if they had been smart enough at the outset to listen to the market place &vibes.

A few more stores were opened and then a hasty ASX listing and a roll out of many more stores followed.

Puzzlement followed as these stores failed to gain traction, how could this be?

Every quarterly report since listing has been a loss except for recent Covid-19 Government support which stops at the end of March 21.

The World and business continues to constantly change and Oliver's is now "timed out" of the market place. McDonalds, Burger King and all the other fast food outlets are offering healthy food choices as demand dictates in today's World. Oliver's did not invent this change.

To me Oliver's is a tired old yesterday's business still not understanding why their business has failed to make a profit.

Oliver's food offering is below par, confusing. doesn't set itself apart from it's competitors and is grossly overpriced and the new purple hamburger is an embarrassment to all.

Pumping more money in, or the proposed 3 cents a share offer to all shareholders is simply in my opinion "flogging a dead horse" as the problems will not go away as the basic problems are the same.

It appears the only way, maybe, for some recovery of shareholder funds is for shareholders is to get "Litigation Funders Australia" (look up on google) to investigate as to whether or not there have been any breaches by Directors or individuals. These Litigation funders are excellent at recovery from Directors liability insurance and Director/s themselves if any breach has occurred. The great thing it costs shareholders nothing as the Litigation funders take a percentage of what they recover.