My criticism was not on that the board cannot execute but that...

My criticism was not on that the board cannot execute but that the criteria for how they were selected is unclear.

I am using it to suggest that maybe this board was formulated based on back patting rather than proper corporate governance.

Will the independent directors really protect shareholders from BPAM if they are attending dinner party soirees with the owners?

That is what your investor relations team is suggesting. I disagree.

Also, I love how they used the Grant Thornton report which focuses on Employee Equity Schemes to justify huge equity payments to an Investment Manager who is owned by people who sit on your board. Huge conflict of interest and they are misusing research.

But let's ignore all this and assume this is successful. Let's run the numbers!

"However Beston Global Food Company chairman Roger Sexton said there was room to grow further. Within the next three to five years, he would like to see BFC expand into a billion-dollar company."

http://adf.farmonline.com.au/news/m...ons-aims-to-fill-global-feed-gap/2751893.aspx

Let's assume 5 years.

That would require a CAGR of 59.55% from current market cap.

Let's assume the All Ords Acc Index returns 10% year on year!



Almost 10% in equity fees year on year! What does this mean?

60% more shares on offer by year 5 and all of it was swallowed by your Investment Manager.

"as a way of topping up their salaries to levels closer to market."

Please. You just want to risk other peoples money for the chance to have an $86.72M salary in 5 years time....

You now own a fraction of what you had for bearing all the startup risk!

This is why this stock will not take off.