I just want to say what a sterling job you guys are doing. "You" being LGS, Red, Alba, Crikey and everyone else who is working tirelessly behind the scenes to right this terrible injustice.
For that is exactly what is happening here. Injustice. It behoves everyone to remember what has led us to this point and why action is now being taken.
We, the shareholder, have invested in a company that in turn had invested in a promising cutting edge biometric technology. This investment was done in good faith and reliant upon the information that was given to us at the time by the management of both companies, NXR and WBT. I know that when I did my due diligence on NXR prior to purchase, it was done with the information provided by both companies AND upon the timeline of development promulgated at the time. How were we to know that we would be here now, years later, in this predicament? We could not have foreseen this. Yes there is always risk, but the risk was always that the technology did not work. WE AS THE OWNERS OF THIS TECHNOLOGY ARE NOT EVEN ALLOWED THE PRIVILEGE OF THIS SIMPLE FACT. DOES IT WORK OR NOT?
For years we have waited patiently for this answer. For years we have been kept in the dark, by a combination of deceit, manipulation, delaying tactics and downright incompetence. We have seen it all. Yet still we are here, years later, owners of a company that is now in its second year of suspension and likely soon to run out of money. OUR MONEY!! Why? Because of the inaction and mistakes of a board that has failed at every level. It still amazes me that they have officially have made no progress for nearly 2 years. Even the very makeup of the board beggars belief. A director who is the proxy of our major shareholder which may be fair enough, however who does not appear to have the ability to run the company. The other 2, who on paper appear to be Chinese nationals with no abilities relevant to the technology.
On the other side of the fence is Wavefront. They also have a lot to answer for. I ask again. DOES THE TECHNOLOGY WORK OR NOT? I am convinced that WBT is holding back this vital piece of information and delaying the development of this technology. For what reasons, one can only surmise.
Irrespective of their motivations or failures, both boards have proven that they are not up to the task of developing and commercialising OUR technology. The simple irrefutable evidence of this fact is that they have not done it. They have failed utterly.
This is why action is now being taken. Enough is enough. No more time can be wasted on the forlorn hope that our boards will make this happen. They will not.
As such, a core cadre of shareholders, dedicated to progressing the technology and dedicated to saving this company from collapse, have taken action. Action that has arisen because their was no alternative. Action to protect their investments. Action to protect your investment. Action to save this company. I urge all shareholders to rally behind them now and offer assistance in any way you can. The fight for justice has only just begun.......
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