Staggering is hardly a strong enough term to describe this fiasco.,What has happened here is unforgiveable but the ASX has never and never will protect the mug punters who play the investing game. Directors only need a flimsy excuse to cover monumental stuff ups and mistakes or errors of judgement. It has for some 40 something years now amazed me that successful private companies get listed, get professional Directors who,bleed them dry then suddenly proven sustainable track records of growth and profits turns into a downward spiral into losses, writedowns, mistskes and shareholders losing out time and time again. No one ever tells the truth its always a sneaky , cunning politician like non answer to a very simple yes/ no question..No one will fall on their sword at BB over this debarcle of course not why should they. Am I living in la la land expecting business, particularly big business to be honest and truthful. Do not despair there are things that can be done (all legal,and above board) to restore BB to profitability, return some of the lost monies and claw its way back to some value above 44.5 cents per share.
Before you ask NO I wont detail that on here but I will send it to Launa for a look.
BBG Price at posting:
37.8¢ Sentiment: Buy Disclosure: Not Held