I can only say that this forum has , my opinion, given this management team far too much leeway for spruiking things up and not delivering. I am only not selling because I believe in spite of managements bad behavior they should succeed. These are some of my issues:
They have exonerated from poor guidance last year.
We don't actually know what the facility is , I don't believe it's $10 million just because of their past poor record on facts.
I have checked the interest rates and it's better in USA for trade finance. 15% is unusual especially with a warrant.
The fluidity between US$ and A$ is far too often part of the problem.
The 14% improvement in margin is a joke if it's from a negative base...
The prediction of future margins is good but can I believe them...
Is the Pegasus deal bedding - in my camp pillows is part of bedding or is it separate.
It isn't probably $10 million in 2017 as they have to start selling...
The executive remuneration is not resolved for me.
They did not break out the moving costs to ongoing costs...
Really think it's still smoke and mirrors...
As for calling Nic well not all of us are that privileged to get to speak to them. Not sure they even listen and I would prefer that the company person being quoted remains the same.
Generally one more reporting cycle for me then I will decide one way or the other.
We as shareholders deserve better communication.
AJX Price at posting:
60.0¢ Sentiment: None Disclosure: Held
