PET 0.00% 2.5¢ phoslock environmental technologies limited

Pet in perspective, page-56

  1. 807 Posts.
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    ".....rather bitter in sentiment..." ummmm yeah !

    If your preference is to live in a world of "good guys" and "bad guys" in order to prop up your blind faith, well good luck to you.
    I am a realist and as I have mentioned several times, you need to familiarise yourself with the legislation contained in the Corporations Act if you want to talk about facts.

    Let me simplify it for you in term of the legal responsibilities of company directors and office holders........The buck stops at the top.

    This is small company with just a handful of directors and senior management with just a handful of managers operating under them. It is not a company with thousands of employees and hundreds of middle managers. They all know what's going on.

    The directors sign off on the financials and make declarations that they are true and correct. They are legally responsible for these declarations. They are legally responsible for ensuring that all transactions and reporting are substantiated and correct, particularly in a public company that is enticing the public to invest. There is an audit committee FFS.

    What you are suggesting is that it is quite acceptable and normal practice for directors and senior management to be totally unaware of what is going on in such a small organisation. That it is quite acceptable that senior management and company directors do not follow the law, the laws that are there to protect investors.

    Your simplistic view of "good guys" and "bad guys" is infantile.

    Keep your fingers crossed and your faith blind for the "recovery".




 
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