telstra bigpond, page-67

Thanks Cav,

This is not a company that I would regard has any care for shareholders. It is also a company that pays scant regard to Corps law. Good luck to you all when you attend the AGM and try to get your resolutions passed. Even a "no show of hands" ended up being cited as "Passed on a show of hands". That resolution required a double count on our insistance but still not one hand was put up.

How then does it come to pass that the resolution is stated on the announcement - PASSED ON A SHOW OF HANDS?

That meeting was even more memorable for the fact that Angus Edgar only spoke through his lawyer. Such was his fear.

Don't be fooled by the big names signing up with Valleyfarm. Like I said earlier, there are managers who will happily sign with entities in the off chance that there is a dollar in it. No skin off their nose.

Contact Valleyfarm and ask them how many artists they have signed up this month. Ask THEM about what sort of royalties they expect to receive. Read the contracts that any 'artist' may have to sign up on in order to join Valleyfarm's stable.

Again I ask if Valleyfarm is so successful, how come they were happy to give away such a huge chunk of the company for such a small amount of money?

Even the ASX queried the solvency of the company on the 3rd August 2010:

"ASX notes that the Company has reported the following.
1. Receipts from product sales and related debtors of $21,000.
2. Net negative operating cash flows for the quarter of ($419,000).
3. Cash at end of quarter of $651,000."

Watch out for a cap raising shortly.

Anyway, all the best to you with your shares.

Cheers,
Tangrams