FAS 0.00% 0.4¢ fairstar resources limited

This company has hit the rocks. No professional auditor could...

  1. 99 Posts.
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    This company has hit the rocks. No professional auditor could sign off a company that is trading insolvent, it would be suicidal for them. If they did, it would open the door for future investors to sue them if they lost on their investment.
    Likewise no financier would risk lending to a company that was insolvent, debt ridden, and whose shares had been delisted from disallowed.
    No matter what insults we would like to made regarding the ineptitude and dishonesty of the company's management, and for the recent needless addition of another executive director, one thing that can be said for them is, they found a way to keep this hopelessly insolvent company alive until they had drained to the every dregs every drop of finance from 3b's.
    In my opinion 'the fat lady is now singing loudly and confidently'. We can wave goodbye to all our hopes and dreams from this venture.
    For myself, like many others, I have lost a money that could have been better served elsewhere, because I felt that maybe by some miracle a financier may just turn up at the last moment to put the show on the road.
 
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Currently unlisted public company.

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