Why wouldnt you vote yes to Alex Keach, heres some reasons:
His background with ECS did not leave ECS holders happy, long term holders are happy he no longer runs the company, and now over here trying to get some money out of EOFs accounts.
To answer questions with why a lot of us long term holders had issues with Alex Keach there were a lot of the negative traits from Alex, including lies to shareholders, such as claiming ECS was fully funded until stage 2 of his plan for the Tasmanian site after a capital raising in December 2020, only to be subjected to a capital raise 3 months later and then another one 4 months after that, basically after being told ECS was fully funded to complete the Tasmanian facility we were subjected to 3 capital raises in under a year and the site wasnt even completed.
After all the 3 raises in a year after being told we were fully funded none of the stages ended up being completed at all. I dont know how much money was sunk into the Tasmanian site but was millions upon millions of dollars.
Other examples of lies like Alex saying an extraction machine we ordered was enroute from Canada, and despite months of emails and calls from shareholders asking about its status, was silent on the whereabouts, only to be told a year after it was due that we werent getting it at all and it was going to sun pharma, so it was never enroute when he claimed it.
Alex Keach also rented his own land to the company , check out what we paid for rent and what rates are around the same area are, wonder why his land is being rented above market rates? and what has this land did for the company? Just lead to bigger losses. Big conflicts of interest, there were other examples of this too .
He also awarded himself performance rights, for achieving milestones that any local fish and shop get in revenue, perofrmance rights rewarded like 43.75 million shares for 1 million in revenue, and then another 43.75 million share for 2.5 mill in revenue, talking revenue not net profit.
Given all this he hardly communicated to the market or shareholders, whilst the share price was going to all time lows there was not one announcement for 7 weeks, despite having a host of information he could give the market as evident by the update that was finally released.
He got paid great salary for years, as well as millions of free shares, whilst not one shareholder was in profit given we were at all time lows. Does leave a bitter taste in your mouth.
I would vote YES to Alex Keach at your own peril.
EOF Price at posting:
8.4¢ Sentiment: Hold Disclosure: Not Held
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