CLZ (ASX) Insolvent next move

Originally posted by Tentative: ↑

After holding this stock for almost four years I sold out yesterday at a more than 99% loss.

While trading is not without risk, it is premised on companies and directors meeting their compliance obligations under the Corporations Act (and other related legislation).

monitoring the organisation's performance and ensuring financial accountability;
acting in good faith and in the best interests of the company and its shareholders, and with care and diligence;
providing accurate and timely information to shareholders and the market, including financial reports, disclosures of material business risks, and other relevant information;
implementing robust systems to identify, assess, and manage risks;
protecting the rights of shareholders and ensuring their equitable treatment is a key aspect of corporate governance;
operating ethically and responsibly, including compliance with laws, environmental responsibility, and corporate social responsibility;
aligning executive pay with the long-term interests of the company and its shareholders, including transparency about remuneration policies and practices;
ensuring the integrity of financial statements and compliance with financial reporting standards through regular independent audits with a reputable auditor;
ensuring directors and senior management disclose any personal interests that may conflict with their duties to the corporation; and
implementing a comprehensive compliance programs to ensure adherence to laws, regulations, and ethical standards.

So, the question is, how could this have reasonably occurred, why, who (if anyone) is responsible, and what (if anything) should happen next? I suspect I know the answers to some of those questions.

Expand

Tentative , the 19 year old they did the 4 million dollar Gekko deal with , was a related party. That is enough for ASIC to investigate . i believe the money owed to them was converted to a loan & they been receiving 33 per cent cumulative for several years on the monies owed . in the accounts, there should be a breakdown of all the loan amounts that are paid out in interest

Originally posted by Tentative: ↑

After holding this stock for almost four years I sold out yesterday at a more than 99% loss.

While trading is not without risk, it is premised on companies and directors meeting their compliance obligations under the Corporations Act (and other related legislation).

monitoring the organisation's performance and ensuring financial accountability;
acting in good faith and in the best interests of the company and its shareholders, and with care and diligence;
providing accurate and timely information to shareholders and the market, including financial reports, disclosures of material business risks, and other relevant information;
implementing robust systems to identify, assess, and manage risks;
protecting the rights of shareholders and ensuring their equitable treatment is a key aspect of corporate governance;
operating ethically and responsibly, including compliance with laws, environmental responsibility, and corporate social responsibility;
aligning executive pay with the long-term interests of the company and its shareholders, including transparency about remuneration policies and practices;
ensuring the integrity of financial statements and compliance with financial reporting standards through regular independent audits with a reputable auditor;
ensuring directors and senior management disclose any personal interests that may conflict with their duties to the corporation; and
implementing a comprehensive compliance programs to ensure adherence to laws, regulations, and ethical standards.

So, the question is, how could this have reasonably occurred, why, who (if anyone) is responsible, and what (if anything) should happen next? I suspect I know the answers to some of those questions.

Expand

Tentative

Originally posted by Tentative: ↑

After holding this stock for almost four years I sold out yesterday at a more than 99% loss.

While trading is not without risk, it is premised on companies and directors meeting their compliance obligations under the Corporations Act (and other related legislation).

monitoring the organisation's performance and ensuring financial accountability;
acting in good faith and in the best interests of the company and its shareholders, and with care and diligence;
providing accurate and timely information to shareholders and the market, including financial reports, disclosures of material business risks, and other relevant information;
implementing robust systems to identify, assess, and manage risks;
protecting the rights of shareholders and ensuring their equitable treatment is a key aspect of corporate governance;
operating ethically and responsibly, including compliance with laws, environmental responsibility, and corporate social responsibility;
aligning executive pay with the long-term interests of the company and its shareholders, including transparency about remuneration policies and practices;
ensuring the integrity of financial statements and compliance with financial reporting standards through regular independent audits with a reputable auditor;
ensuring directors and senior management disclose any personal interests that may conflict with their duties to the corporation; and
implementing a comprehensive compliance programs to ensure adherence to laws, regulations, and ethical standards.

So, the question is, how could this have reasonably occurred, why, who (if anyone) is responsible, and what (if anything) should happen next? I suspect I know the answers to some of those questions.

Expand

No.	Vol.	Price($)
45	21908244	0.4¢

No.

Vol.

Price($)

21908244

0.4¢

Price($)	Vol.	No.
0.5¢	6202965	7

Price($)

Vol.

No.

0.5¢

6202965

No.	Vol.	Price($)
45	21908244	0.004
21	77962002	0.003
17	174525499	0.002
26	422599887	0.001
0	0	0.000

No.

Vol.

Price($)

21908244

0.004

77962002

0.003

174525499

0.002

422599887

0.001

0.000

Price($)	Vol.	No.
0.005	6202965	7
0.006	2410877	7
0.007	2871249	13
0.008	2305454	12
0.009	161111	2

Price($)

Vol.

No.

0.005

6202965

0.006

2410877

0.007

2871249

0.008

2305454

0.009

161111

(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $1.634M

Open	High	Low	Value	Volume
0.4¢	0.5¢	0.4¢	$93.82K	23.25M


Last 0.4¢		Change 0.000 ( 0.00 %)
Open	High	Low	Volume
0.4¢	0.5¢	0.4¢	21837366
Last updated 16.00pm 31/05/2024 ?

Insolvent next move, page-98

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