As a shareholder of TON I find myself of the opinion that I am not reasonably informed with regard to the current status of the company.
The most recent announcement, being the Quarterly which is an obligation, IMO did not provide any substantial information other than the arrangements regarding the resigned MD/CEO.
IMO the company has been floundering and marking time. We don't have an MD / CEO (other than the CFO acting) and we have not been advised as to the process being taken to fill that position. We have also not been given accurate information regarding the current status of the 'finance package', progress on-site and further sales efforts. None of the information or proposed activities provided more recently via ANN's to shareholders has 'become true' apart from the MD / CEO resigning!
I believe that trading in the company is not warranted until the company can provide shareholders with an accurate announcement regarding the current status around these activities and that the company is correctly managing its continuous disclosure obligations.
I also believe that all BoD members and management take (effective immediately) a 50% reduction of their 'fees' and or salaries.
I also don't believe we need a PR company on retainer of whatever that relationship involves.
This would reduce our monthly cost from approx $230K per month to under $100K per month.
I would hope some of you would agree?
Cheers.
TON Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held
