After listening to Jay Abraham at a Bsquared event 2016 describe...

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fairmoodz

85 Posts.

84

05/01/22

16:38

Post #: 58661480
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Originally posted by TheBoredKid ↑

Can anyone clear my doubts about management?

Disregarding everything else about the company, I have doubts about management because few seem to have relevant experience in this space especially as the chair has a very bad track record across other companies he is also a part of. Everyone who was originally part of the board seems to be from Italy and I would have thought they are all just friends and for some reason decided to come to Australia from Italy to create a company on the ASX.

Let's go through them one by one below:

Bert Mondello (Chairman)

Director of VR1, DOU, EM1 and WSI - all of these companies had a big short term run at some point and has crashed and continues to crash (looks like what's happening to the stock now)

DOU IPO at 35c - now 7c

EM1 1c when he joined, did a runner to 14c and now back to 3c in an indefinite trade suspension

WSI 2c when he joined, 2c now

Gianmarco Biagi (Managing Director)

Before VR1: Managed luxury design furniture company between 2006 - 2018

Not sure how the management of a furniture company is similar to a XR tech company.

Gianmarco Orgnoni (Chief Operating Officer)

Before VR1: Managed a geological company back in Italy before

Not sure how the operations of a geo company is similar to a XR tech company.

Lorenzo Biagi (Chief Sales Officer)

Before VR1: Sales in software development company specialising in XR

Understandably on the board as he seems to have a lot of experience in this area

**riele Sorrento (Head of Global Partnerships)

Before VR1: CEO & Co-founder of Mindesk

Understandably on the board as Mindesk is one of their key products

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After listening to Jay Abraham at a Bsquared event 2016 describe how 'The Cross Pollination of Ideas' works, it makes perfect sense to me that you'd have people from all different backgrounds in your innovation based business. Double bonus would be when they create and sell their innovative solutions back to the industries that they cut their teeth on.

An NBA franchise owner doesn't need to fill any pre-requisite background of being a former player / coach / staff member etc to own and run a successful NBA franchise.

There also evidence that electric vehicle companies don't need to be owned/ran and have boards filled by people with automotive backgrounds.
VR1 Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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