Guys I understand we all have strategies but the BS that's floated by directors without ever have to face court is amazing. I have experience from somewhere else and that's a third world environment but if you think that ASIC and the ASX police anything think again.
They have all the laws as people have pointed out to me but no prosecutions of note. We just accept this and we take the knock. I watch these creditors meetings and see all these elderly folk standing there and accepting that they have "done their money". We are younger we can rebuild but if you look at the number of failures and who takes the knocks than you see it clearly.
Surely these Speccie companies should be far more closely regulated in what they are allowed to put out and when. Between them and some Posts you would swear they have found an oil well as big as the middle east.
At times I wonder why they dont just float companies that just keep rotating equal doses of good and bad news and let us effectively bet on whether its an up ramp or down ramp - much like the lotto.
We deserve the oversight we get because we never ever go and raise these practices when the Pollies want our votes. We need to hold them accountable and the shareholders association is more than just a waste of time.
GDN Price at posting:
9.4¢ Sentiment: None Disclosure: Not Held
