Should you also include the continuous capital raises and...

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Dev356

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29/07/24

11:00

Post #: 74959837
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Originally posted by James1964: ↑

Dear Mister Pig,I hope you are well and are plotting your liberation. It is a cold and windy morning, and I am doing my own plotting. It would be appreciated if you and hopefully a couple of other shareholders that have been slaughtered by the inept and pathetic butchers at NET could also contribute correct (my additional) complaint before I send my email to ASIC. My draft is ready for input. I have deliberately left out a few details to protect my identity in this forum.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Hello ...... ...........,
I would like to raise with you the conduct and operation of the management of Netlinkz Limited an ASX listed company NET. There have been several years since I worked with Senator ..... ....... on the Financial Services Royal Commission. I have attempted to lodge complaints against this company for which I have a shareholding by telephone and via your electronic portal. Both efforts ended without any result. In part either through my frustration or inability to establish contact with the relevant officer. Another explanation could be that ASIC does not have the resources to follow up. The latter is probably the most probable explanation.

I have significant concerns about the manner in which Netlinkz has been operating. My areas of concern are as follows:
1. The latest auditors report has not been signed off in the usual manner and as a result NET has remained suspended from trading for several months. It is intriguing that the issue of auditing of the accounts has not been completed to the satisfaction of the auditor.

2. A total lack of transparency on the expenses incurred by the company. In view of the inactivity of NET to develop its computer security software it is inexplicable how expenses of the magnitude incurred have occurred. The auditors need to clarify this but alas insufficient details on the ultimate destination of these expenses is not provided.

3. A failure to update shareholders on the countless promises and initiatives that NET management have made have not been provided.

These promises include the following:

a. Business partnerships with entities in the US, India, Greece and a host of other countries.

b. Internet security partnerships with other IT companies.

c. Internet of Things and Internet of Things Laboratories.

<<<>>>>>>>>>Other areas of concern include:<<>>>

I readily recognise the funding and resource challenges faced by ASIC. If resources could be dedicated to this matter it would act as a clear signal to other listed companies that in the very least promises and business ventures cannot be announced without providing shareholders any follow up on where the company spent their money.
I look forward to your response.
Your truly>>>> >>>>>>>>>>>>>>>

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Should you also include the continuous capital raises and dilution of shares.

I might also add the statements by the company referring to Intellectual Property which does not exist which would then ask the question where had the 100M$ plus gone.

NET Price at posting: 0.3¢ Sentiment: None Disclosure: Not Held
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