According to AUZ financial accounts 30/6/22 they had Cash Assets of $3.9million.
Due to Management Incompetence of not following ASIC disclosure obligations (which most other ASX listed companies have no problem doing), they have cost the company $450,000 (over 10% of cash holdings or approx. 1.6% of our market capital).
Please feel free to make your displeasure known by emailing: [email protected]
Perhaps some pertinent questions could be:
1) How did this occur?
2) When did Management become aware of the breach?
3) What steps have Management taken to ensure it does not happen again?
4) Will Management accept responsibility for the mistake and contribute $450,000 into the company coffers (without being issued extra shares or expecting it to be repaid?)
5) What steps will Management take to regain the faith of investors?
I'm guessing we won't get. a genuine reply, but who knows?
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