Mud sticks. If the Whatsapp posts on FB by Ross Smith (formerly of MXC) are accurate, both Brett and Ross present as rather unappealing characters, living in an entitled world of greed, usury and cliches. If it's true then good riddance: clear the decks. Be pro-active: hopefully the company will distance itself from any controversy and start a new chapter. The Michael Malone appointment is a good start.
Although Brett may have been instrumental in bringing SAS to the ASX, I think it would perhaps be prudent for the management to distance themselves from him and his associated business entities. Aside from WA being Brett's State of residence, is there any reason for the company to continue to be based in Western Australia, aside for relocation costs? Hint hint...Melbourne...
As an aside, I'm not sure what to make of this rise on no news. A buy of 100k could get the SP to .07 so moves on little volume make me nervous. See SAS SP Melb Cup 2016. I'll be concerned if the next round of funding was somehow managed through / via Brett's Cheiftain Securities.... or if a CR was announced in a few weeks and this is just a pre-pump. Not saying it is just being wary.
Brett is holding over 20m shares in various trusts which have been declared. Current value is around AUD 1.25m. Not a lot but who knows, I wonder if he'll be on the Top 20 list next year...or next month! Not a deal breaker.
I'm on the sidelines at the moment until funding details are announced. I might miss picking the very best price but I'll be more assured if/when I do. Let's see what tomorrow brings...
p.s. nice reference to Ned Kelly today @Hunterr - it seems a lot of people take shots at you and you just keep going - I reckon you might have his armour.
