The directors current behaviours are really the worst enemy of this company. The story is good but they are just so so good at wasting money pointlessly.
It's all great to be generous spending investors cash, but you gotta do things that are worthwhile, travelling here and there opening offices when there are no large clients is such a waste.
Why base in Perth when you also need an office in Sydney. At my workplace, we make do with one office to save on rent and overheads and we are a large, established business.
I stayed until the very end of their recent Melbourne roadshow and they have lost so much credibility with me. How can you make so much talk when the balance sheet is what it is. 312k of admin costs in 3 month, is this for real?!
Patrick if you really do look at these threads like you say in the podcasts, please address these spending habits before you make inroads. The SP is directly linked to your spending, please consider this everytime you feel money is being spent on something that is not absolutely critical.
People put their hard earned savings into this based your reputation. Please live up to them.
Long holders can support you but not if you don't support yourself. SP reflect market confidence in you. No one can handle constant SP falls off 60-70% no matter how much they believe in you
IAM Chart, page-70
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