Even if this company was an Australian company I would struggle with it. Minority holders have no control over their money. If the business doesn't make any money the chairman will keep paying himself an excellent salary.
In the prospectus he said he would pay a dividend out of profit and then never did. What's the value of "owning" the cash but never having access to it and watching it get frittered away.
The 4m raised in the IPO isn't going to be returned to shareholders. Their chairman will likely buy a nice house with it.
I think the share price is fairly rational, judging this guy by his actions.
- Forums
- ASX - By Stock
- SBB
- Too good to be true?
Too good to be true?, page-37
-
- There are more pages in this discussion • 79 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SBB (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online