So how about that price drop eh? We have more money in the bank than ever, an agreement to buy a manufacturing facility that already makes cvm equipment as well as having it’s own revenue stream and a fully-fledged “company making” contract. Yet we are still getting whacked.
I have a supposition as to why.
On 9
th June 2017, from one poster, in response to a call for heads to roll from logo, we get:
logo1 said: ↑
Agree , TC needs to go, you have my vote as well.
Posters Reply:
“All you need are the votes of Drake and Mac and you would win a proxy fight. I highly doubt you would get these, so until you do I would take a serious look at selling your shares otherwise for God's sake you and others need to leave out the rhetoric. It's getting boring.”
Then, magically, after the court case for continuous payment of 3% gross royalties and around $300000 from 2011 and 2012, this poster, who has indicated he has the power to wield a printer company in the name of SMN, states (23
rd December 2017):
“
Two less "BANKERS" on the board and management is a great place to start .. these guys are serious bankers who gave to go ..”
Wow! Big change of heart from the one who responded to my post of in February 2017:
“I just took a good look at xxxxxxx’s posts. He's a real big Toby Chandler, Drake and Bryant Maclarty follower. (Bbx, hzr and Smn). His recent posts blowing off some real management issues may be a bit more insightful than I first thought. You should have asked him how many he owned as I'm interested to check it against the top 20.”
With:
“And why wouldn't you be !! I love those guys.”
And poor bomby!
bombeiro911 said: ↑
yep I cannot understand how people do not see what has occurred here.
This is clear as day.
Who was the most enthusiastic in the conference call?
The way he was talking it was a done deal
next few weeks I was expecting a big announcement as everyone else
Hence the share price raise from $2.1 to high $2 mark
Then he sells
So obvious a blind man can see what has occurred
Clear example of the big guys screwing the little guys
Just like the banks
Thanks Toby you BANKER
ASIC have heard from me !!!!!!!
Posters reply:
“Jesus wept, Move on ..”
So, on Christmas day 2018 we get:
“Enough with the excuses ! Enough with the half truths, enough with the buying and selling, enough with the lack of accountability, ENOUGH !!! The directors are accountable for the lack of governance and are vulnerable to the lies that have been told. The board must change in 2018 and it will.”
So powerful and prophetic!
Then a follow up:
“Its all about the total lack of governance and the lack of a proven process driven chairman. If there was good governance this company would be valued significantly higher. The board are weak so the CEO does what he likes. The board are responsible for the lack of governance and this needs to be changed if shareholders ever want to see real returns. The governance standards are non existent.”
And some more pretty clever agitation:
“They raised a heap of money @ 1.25 from what directors refer to as "large,serious reputable funds" so its not surprising its hovering around $1.25 given SMN directors and managements definition of quality funds.
Remember SMN directors and managements past efforts to raise money through "reputable" funds, you know the ones who got the stock and proceeded to sell it straight away and keep the free options. Why cant they put out a list of who took the placement as they were asked to do at the AGM. Whats there to hide ? Where's the updated top 20 ?”
Then, the coup de grâce, the beginning of this wonderful thread:
“How long are we supposed to keep watching whilst Nero and his mates fiddle (with themselves) and Rome burns ?”
Which of course includes the famous tout:
“Why are we putting up with his attitude ? He and the rest of the board are supposed to work in the
best interests of shareholders big or small, long suffering or recent. Not in the interest of themselves.
Its that simple. Its actually really bloody simple with regards to insider trading and non disclosure too. If they knew about material things and they did not disclose them or if they or others bought or sold or bought because they knew things others didn't they have broken the law and that will eventually catch up with them no matter what part of the planet they are in. Why not appoint an experienced independent non executive Australian director that all the shareholders are happy with, Why not ?”
(hands up for Bryant!)
And then this interesting aside:
“BTW The sole Australian Director is Andy Chillcott. The company has his mobile. I'm sure he would be happy to take your call. You can ask him about who knew what and when and how it can be that after a company making announcement the share price has collapsed. Who benefits ??????
I think everyone needs to stop whining like babies and acting like its out of their control. Its not. You can sell or you can push for change but for gods sake stop whinging.”
Which means my next bit of research (when I get more spare time) will be on Andy from the big App Cr.
To be fair, this poster also said:
“The largest North American OEM (Boeing) is currently reviewing five applications for CVM on behalf of Delta and IMPORTANTLY , for Southwest Airlines as well.
Southwest is the world's largest low cost airline that operates more 737's than anyone else on the planet 24/7.
Are people getting this yet ?
This report was very important and it's great to see something clearer and more concise than anything produced recently.”
And I totally agree.
In fact, I agree in totality with every one of these RECENT postings including the stuff about the bankers.
Please note I also have said more than once that Bryant Mclarty saved this company from bankruptcy but of course that gets ignored by those who paint me as someone with a personal vendetta.
But, the sheer dynamism of the posters 180° turn causes a pause for thought.
If I was someone with real power inside a company wanting Directors to take a case heard by the Chief Justice of the Supreme Court of WA to the Court of Appeals to have three Supreme Court Judges ,that have been appointed by the the Chief Justice of the Supreme Court of WA, overturn his decision and they said something like:
“Ummm no, it’s actually cheaper to settle this, I mean, $300000 of other people’s money and we’re sorted eh, choice bro, good as gold” (sorry, I work with a lot of NZ’s)
What would I do?
I mean, how very dare they not listen to me!
Pretty much the personal vendetta gets highlighted here:
“Ahh the selective memory is astounding. Ken and Len (PERSONAL REFERENCE) got a million dollars cash, millions of shares (that they sold too cheap) (PERSONAL OPINION OF STUFF THAT “HOW THE HELL WOULD HE KNOW”) and when the company really needed their support they tried to produce new IP that didnt belong to them (actually this was in the court case) and then later at the companies darkest hour tried to put it under (FIRST TIME I’VE SEEN THIS ACKNOWLEDGED BY ANYONE) and lets just see how the printer company goes with its new chairman ( VERY PERSONAL, BITTER EVEN). Should be interesting to watch.(WHY?, NO FOLLOW UP COUNTER EXPANATION OF THIS COMMENT OFFERED)
”
Maybe I would push a little to get things shaken up and get what I want?
Too big a stretch?
Well, the date of the Court Case posted by Redgum on the thread “Tulip Bay” was 22nd December 2017.
I can’t find anything but pleasantries extended to the management group and the company by this poster prior to this date.
But AFTER this date…. Weeeeeeeeee… were off at the races!
23rd December 2017
“
Two less "BANKERS" on the board and management is a great place to start .. these guys are serious bankers who gave to go ..”
etc…..
What a silly coincidence!
Like I said before in a previous post:
“
I've been told the best way to get someone on a board is to use small sales of large shareholdings to depress a share price long enough to make holder(s) scream for a change.”
I wonder who would or could do such a thing? If there was someone like that out there then this small supposition kind of outlines how this behaviour might come about.
I have a real problem when people with an Australian Financial Services Licence play games with punters money.
Personal vendetta Macca? No. Morally obliged to call things as I see them and shove this up someone’s nose? Absolutely!
(20min delay)