Indeed even for someone like me who bought in at 21c mark, it is...

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katwal

21 Posts.

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26/04/18

17:28

Post #: 32701648
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Originally posted by johnnyfiasco ↑

Their rationale for moving to half yearly reporting was due to the fact that they are now a profitable 'established' business, and want to focus on running the company.

Profitable 'established' business also need to keep investors up to date with progress. Having the share price completely eroded with management on radio silence is not a good look.

I'll be interested to see how this plays out and also looking to see how many pats on the back Dom and Theo give themselves at the AGM.

I can't say it's looking good at this stage. There have been many instances which were textbook signs to head for the exits.

Acquisition which was expensive and ultimately burned the investors who participated in supporting that acquisition.
Millions pissed up the wall in re-financing and consulting expenses.
Extremely generous board remuneration with pay and share based payments.
CEO selling 20+% of his holding before shares take a dive south.

This investment has been a really expensive learning experience.

They are still spinning off considerable free cash relative to the MCAP, and will get better once debt is zero. However do I have confidence in the long haul that these guys will manage shareholders capital prudently? No, I dont.

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Indeed even for someone like me who bought in at 21c mark, it is an expensive learning experience.

CM8 Price at posting: 6.8¢ Sentiment: None Disclosure: Held
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