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($)
23	8466338	0.7¢

No.

Vol.

Price($)

8466338

0.7¢

Price($)	Vol.	No.
0.8¢	1732793	13

Price($)

Vol.

No.

0.8¢

1732793

No.	Vol.	Price($)
1	139990	0.008
21	8136338	0.007
23	5600111	0.006
25	13361508	0.005
14	25300201	0.004

No.

Vol.

Price($)

139990

0.008

8136338

0.007

5600111

0.006

13361508

0.005

25300201

0.004

Price($)	Vol.	No.
0.007	140000	1
0.008	1732793	13
0.009	753610	5
0.010	865806	8
0.011	59593	2

Price($)

Vol.

No.

0.007

140000

0.008

1732793

0.009

753610

0.010

865806

0.011

59593

(20min delay)
Last 0.7¢		Change 0.000(0.00%)		Mkt cap ! $2.264M

Open	High	Low	Value	Volume
0.7¢	0.7¢	0.7¢	$29.94K	4.277M


Last 0.7¢		Change 0.000 ( 0.00 %)
Open	High	Low	Volume
0.8¢	0.8¢	0.7¢	3150122
Last updated 15.58pm 14/05/2024 ?

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