FMS - "The Foundation Customer", page-286

I agree. (I am having difficulty understanding any ST incentive at present)
As we all know, the last 2 Anns have signaled a marked change in communication to minority holders and apparent intent of the Company.
I spent some time yesterday writing a post outlining these changes however I am unsure whether to post it.............perhaps only looking forward is the way to go?
Suffice to say that the big issues identified in recent anns have been the amount of work still required, the lack of funds and future funding.
In fact, recent Anns have confirmed that since “maturation” little work has been done on progressing PIOP, (at least for past 6 months), due to lack of funds. Nowhere in any of these Anns was a question raised about the cost to continue to employ our contracted ED without a specific role. The inference was that the only work completed for the Company was on the De Listing proposal (incl consultants) and of course regulatory requirements.
I am sure Mr McAdam is a smart man but surely he is not an expert on De Listing and regulatory requirements can be handled by someone much cheaper!
We now have an Ann advising that David Mc has been appointed CEO and will receive a $200,000 ST cash bonus to complete a SH approved binding Infrastructure agreement!!?
I am curious how David can reconcile his new task against his previous position?
David was reportedly the main man behind the “Maturation” program which came to the conclusion that we had a basis to move forward however much more work was required to confirm long term viability of PIOP?? (my paraphrasing) It would appear they now believe the info currently held is sufficient to negotiate with an infrastructure provider??

Also, as was pointed out by Killa68 on another thread the previous Ann advised we were to employ consultants to investigate all our infrastructure options and a Committee was appointed to assess the recommendations, including appointing a supposed high power ex pollie to assist!!?

Now, I have no problem with Mr McAdam or anyone earning a fair whack for their efforts and he no doubt had significant input into the "maturation" program. I just think the Anns are a bit muddled and would like some clarity on what we are paying to who and for what work.
Perhaps they have decided to cancel the consultants or perhaps Mr McAdam has the most updated knowledge of PIOP and is the only one who can negotiate this type of deal? It is not clear to me but that's not unusual
Apart from all of that, I am pleased to see some intent on progress, however I continue to be concerned about the apparent willingness to spend Company funds while warning of our financial position.
In line with this I am also not happy that we continue to rely on a loan from PIO and they have never Ann'd any proposal to clear that facility. (Minority holders have certainly shown a willingness to participate in rights issues for working capital)
Working capital should have been organised well before it was needed. Obviously it appears the De Listing debacle interfered with all time lines………………..
All the above is just my opinion and interpretation of what I have read.