IOT (ASX) Give us an update now

Originally posted by trade4me ↑

This is ridiculous. The SP is getting slaughtered and IOT refuse to inform us SH's of what the hell is going on.

1.) There's a court case which we haven't received any information on, apart from the original ann.

2.) They said they've placed orders to manufacture ROAM-e samples to send to potential customers but we they have not provided us with any further details.

Considering that we are losing all our money, IMO this company should be providing SH's with REGULAR updates.
- Have they actually set up the production tools to manufacture the product?
- Have they finished making the initial sample batch?
- Have the customers received the sample?
- What's the feedback on the product?
- What the legal/court case costing?

WE NEED ANSWERS AND WE NEED THEM NOW. If this company refuses to provide SH's with appropriate information and we lose our money, surely this will be investigated and lead to criminal charges.

Whether there's good or bad news, we have the right to know what's going on to enable us to make decisions. Without this information, we are left in the dark with nothing. If the product isn't; working/being manufactured/disliked by customers thus meaning the company will not succeed, they should have to reimburse us with the money that's left as opposed to burning it all on bloody legal battles and their own wages etc.

I hope this rant is unfounded and they're in the process of making good things happen BUT, without giving SH's their right to this information, I think it's understandable that people like me have these concerns.

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Look !! With all due respect, companies like this are scattered throughout the asx.
The did a backdoor entry into the asx with the name 'iot'.
Pump and dump scams happen alot throughout history. And they always work in a similar nature. And they always end with this same particular anger you are showing now..
The anger will get worse and worse , then they delist.
They will not get into trouble either , as their excuse will be that they were a startup company who just couldnt get it to generate profit.
Instead of getting angry maybe you might looks at exit strategies now. And place whats left in a new investment with positive fundamentals.

Cheers and i do feel bad for what iot have and will continue to do to investors.