Looking at yesterdays annual report for financial year 16/17 I noticed one thing that really stuck out to me. Firstly for the FY the share price fell from 10c at July 1 2016 to 2.9c at the end of 30 June 2017.
So a 71% fall in share price and yet management (Hunt and Vorster) more than doubled their salaries!!!
Hunt went from 195k to 390k and Vorster from 56k to 190k. Incredible given the lack of progress and change of plans for the company.
For a company that has fallen so much and for management not to be buying shares on market during the past financial yet doubling their salaries is an extremely bad look.
I think the market is giving VRC (and it's management) exactly what it deserves, a SELL DOWN today.
The options are no longer in the money either. Things just keep getting worse for Volt
VRC Price at posting:
2.0¢ Sentiment: Sell Disclosure: Not Held
