The December quarter update will make interesting reading where is the proxy wielding Chairman now? Will he ever make one!
Time to call it, the board has misled the market in every announcement made over the past 8 months they have failed to deliver or give any closure as to why not. Where are the paying customers, new trial sites in Australia & USA promised, the renegotiated contracts and the core product delivery? They have spent over $1m in the last 8 months to achieve what? Then again how can they deliver as they intend to hold spending at current rate which does not leave any funds to employ front end developers (critical for VCL) or sales people.
The Proxy wielding Chairman’s backed Broker support yesterday, let a $27 trade reduce the stock by 20%. Surly the investors from the West must be getting disillusioned with their selected management team or are they aware of another game that is being played that the rest of us are not?
It’s time for the Chairman, Board and CEO to be aware of the angry shareholders, this one has had enough of this rubbish and ready to strike.
IMHO
RNL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
