It's getting harder to ignore the signs of mismanagement at OVT....

It's getting harder to ignore the signs of mismanagement at OVT. Here are just a few examples that point to serious governance and strategic issues:

1. Leadership Instability
   The company hired Simon Keast, supposedly for his U.S. BNPL expertise, but he quietly exited within months. The CEO role was taken over interim by Executive Chairman Daler Fayziev. No permanent CEO has been appointed since.
   ASX Announcement – 26 Feb 2025: CEO Change

2. Stalled BNPL Launch
   Despite loudly announcing a BNPL entry into the U.S. market and a long-term deal with BNPLPay Protocol, there's been zero evidence of operational progress — no app launch, no customer data, no transaction volume updates. Just words.
   10 April 2025 BNPL Strategy Update – Still No Execution

3. Delays in IDSB Disposal
   OVT announced the immediate sale of its Malaysian asset IDSB in April, claiming it would recover $14 million. Over a month later, there is no confirmation, no money received, and no clear explanation.
   ASX Appendix 3B – 23 April 2025

4. Continuous Dilution
   The company recently issued 91.9 million new shares (May 2025) with no clear explanation of shareholder benefit. Shareholder value keeps getting diluted, and yet, there's no operational income stream.
   Appendix 2A – 6 May 2025

5. Distraction Over Substance
   OVT’s latest “highlight”? Moving office. That was the only tangible update in the last activities report, while important issues (like failed execution, missing funds, and investor returns) are swept under the rug.
   Activities Report – 30 April 2025

Conclusion:
How long will shareholders tolerate this cycle of announcements, dilution, and no delivery? Time to demand accountability from the board — or risk being left holding the bag.