Stakeholder Update 27 March 2018, page-57

Hi all, first time poster here, am a holder.

All in all:
- key management positions are being replaced. Don't think we can comment as to the potential competence/incompetence of these new members until we see what they really bring to the table.

- as others have said, the announcements shows the company is trying to move forward, emphasising on future compliance and corporate governance. At the very least they are saying the right things. Let's now look forward to greater transparency.

- no mention of ASIC investigations and no announcements from ASX/ASIC thus far, so we can only assume that this remains ongoing and therefore no commentary available.

- No mention of when trading can commence, but suffice to say this won't happen until the accounts are lodged and ASX is fully satisfied (I'm stating the obvious, I know).

In terms of personal takeaways:

- an update like this is better than no update.

- There's now alot of 'finance' expertise, some have mentioned capital raise (in which case great) but I think this may help with rearranging credit lines for expansion going forward, particularly abroad. Whoever agreed to sign up to the 24% commission deal with FC Capital plus a GSA on top probably doesn't know what the price of debt should be, or is a bad negotiator.

- previous posts have mentioned DLA Piper and its capabilities in securities litigation, well if this turns out to be true then imo which better firm to do it right? But let's not speculate until we know what ASIC's next steps are.

- International accounting firm hopefully means a Big 4, purely for the confidence factor and not because they're any better at their work tbh. There are times where companies specifically asks their name not to be mentioned in public announcements, this may well be the case given sensitive times and BIG mgmt is not exactly the most reputable to be associated with atm.

-Personally I'd rather this gets suspended longer so that more information as to ASIC / Accounting Treatment / Financing Arrangements / General Business Progress etc. are in fact released to the market prior to trade. There are a whole lot of short sellers that would much prefer this stock begins trading with uncertainty and on a huge negative tone, market plunges and they take their money and move on to the next target as it's all about capital churn, as well as uneducated investors whom's last recollection was this stock being splashed across the afr being associated with alot of negative things. Uncertainty can only breed fear, so I'd rather have a greater certainty of everything which would only help to minimise losses. I'd like to think most of us here (who to date have put up quality posts) invests in what we can afford to lose so we can hold for quite a while.