accaeric,
Between 2015FY (not yet listed) and 2016FY, the FBI agent gave herself and allies some 10 times jump in pay. i.e. in 2015, total salary was under $500,000, and Share based payment was around $850,000, in 2016, their salary went over $1.2mil and Share based payment up to whopping $7mil.
Putting into context, Former Minter Ellison CFO Jailed for $2.7m theft; Leightons CFO jailed 15 years for stealing $20mil. if they worked at 1PG, they would not have to steal!!!
in the quarterly, the company stated:
"the Company believes in prudent cash management and is reviewing operating expenses
(including executive compensation) with a plan to reduce monthly operating costs to below US$1MM
within Q2."
therefore, that will be still some $3mil overheads a quarter, if they keep losing stupid money on investment like US treasure bond again, that will be a $5mil quarter again!!!
no wonder they keep hiring money men to the board, recent being: Michael Shen and Tod McGrouther.
I feel they should hire Joe Hockey who told Australian IT IS TIME TO LIVE WITHIN OUR MEANS. I mean if anyone has been listening.
Hiring PR and Money men to the board instead of hiring tech high profile certainly means the company is in crisis that Ms Joanna does not know how to resolve. yet she still wants shareholders to vote
"That, for the purposes of Listing Rule 10.14 and Section 208 of the Corporations Act and for all other purposes, the transfer of 2,000,000 Vested Performance Rights Shares to Ms Joanna Riley, on the terms described in the Explanatory Statement, is approved"
The only chance 1PG will bounce is through short covering or share buy back. However it is already very hard to convince longs, let alone shorts.
accaeric, good luck with your third trials. But the shorters seem hard to defeat on this one, they are keeping coming:
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 0 Date Gross shorts 1 Issued capital % Capital shorted 2 Trade volume 3 Shorts as % of volume 1 Thu 2nd Jun, 2016 134,000 112,827,228 0.11% 3,400,880 3.94% 2 Wed 1st Jun, 2016 422,792 112,827,228 0.37% 2,104,914 20.09% 3 Tue 31st May, 2016 489,503 112,827,228 0.43% 1,837,648 26.64% 4 Mon 30th May, 2016 18,631 112,827,228 0.01% 222,216 8.38% 5 Fri 27th May, 2016 33,770 112,827,228 0.03% 252,608 13.37% 6 Thu 26th May, 2016 239,990 112,827,228 0.21% 591,601 40.57% 7 Wed 25th May, 2016 12,421 112,827,228 0.01% 396,398 3.13% 8 Tue 24th May, 2016 25,742 112,827,228 0.02% 1,471,378 1.75% 9 Mon 23rd May, 2016 183,746 112,827,228 0.16% 1,674,291 10.97% 10 Fri 20th May, 2016 343,811 112,827,228 0.30% 812,167 42.33% 11 Thu 19th May, 2016 40,419 112,827,228 0.03% 212,540 19.02%
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