I haven't been following the TV2U forum for a while and, had I not been mentioned by @AzInAsia, I doubt I would be looking at it for a while longer. Out of curiosity I read a few posts and saw the comments about Sophie Raven.
Hiring Sophie was one of the best decisions TV2U ever made. I will explain why.
First of all, what was going on with David was highly questionable. Probably out of kindness he tried to help those who bombarded him with a multitude of questions. The thing is he works for TV2U, so what did you expect him to say? "Oh we are in deep trouble and things are totally out of control"? Of course not. He wanted to be encouraging and supportive, without giving anything away, not to mention keep his job. On the other hand he was walking a very thin line between helping stressed investors and insider trading. He would do well focusing on his CFO role and the Annual Report now!
An example just to illustrate, had some of what David (hypothetically) said in private, and things have a way of getting out, led to unusual investments followed by an ASX investigation, we could all kiss our investment goodbye. I don't know what Sophie did or said recently that caused such reaction, but we should be thankful that Sophie is finally putting some order in the house and, by extension, protecting the investment of ALL investors.
Sophie is experienced in three areas where TV2U needed to improve. Dealing with the ASX, legal advice, and investor relations. Investor relations doesn't mean answering phone calls or emails, unless they are related to technical, legal or administrative matters associated with the investment. There are very clear rules about that. Her role would also lead her to interact with large and institutional investors who will hopefully demonstrate interest in TV2U. Telling each of us individually how TV2U is faring is not her job, she will communicate things formally to all investors as required by the ASX.
Last, Sophie is not working full time for TV2U. She has other jobs and roles with other companies. I have no idea how much of her time TV2U asks of her. Any assumptions about her income are not helpful and will not represent any saving for TV2U, cost/benefits wise for sure. There are others that can and should take pay cuts and reduce their lavish expenses until such time $$ profits are secured. Then they can splurge as much as they want. Many CEOs take a minimal salary and fly economy because they don't want to be a financial burden on their company. They are compensated by performance shares, which motivates them to accomplish miracles. If we want to get rid of overhead, there is a juicy piece there.
Just my opinion and thoughts! All the best to everyone.
TV2 Price at posting:
0.9¢ Sentiment: None Disclosure: Held
