VCR ventracor limited

Agree. However I feel we also need a 1 or 2 page document...

  1. 177 Posts.
    Agree. However I feel we also need a 1 or 2 page document outlining the detail of what we want so that shareholders can specifically refer to that document in pledging their support. Also it would be desirable if we have rough timeframes allocated to our goals, e.g. for the SPP and replacement of management.

    To give it our best shot, the document has to have no grammatical or formatting errors and look very professional. It is extremely important we have a cohesive, organised and professional image. No offence to Vijay and his team, but the letter he sent out (which I've attached a portion below) I think could do with a fair bit of improvement. I agree with everything in it, it's just that I think it is incredibly important to have a slick and professional image to win the confidence of the Voluntary Administrators and the support of shareholders.

    Sample of conditions from Vijay's letter:

    1. Replace the present board of directors except CEO Mr. Peter Crosby with OUR REPRESENTATIVE and his team
    2. Draw down surplus cash from the subsidiaries to keep the operations going for one month
    3. New SPP to the limit of A$10,000 per account or to the maximum amount as permitted by ASIC/ASX
    4. New Directors taking the minimum salary until the company becomes cash flow positive rest as shares in the company.
    5. Employees doing the same.
    6. Clearly explaining the number of implants for the past nine months. Breaking down to month wise.
    7. Managing the revenue and expenses of the group as a whole, not just the holding company.
    8. Price of issue determined by the new directors.
    9. Clearly specifying the minimum amount required to make the SPP a success.
 
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