SP1 0.00% $1.07 southern cross payments ltd

I was a holder and a big believer. I am also able to conduct...

  1. 34 Posts.
    lightbulb Created with Sketch. 28
    I was a holder and a big believer. I am also able to conduct logical, unemotional investing; and have a good sense to heed red-flag events. Upon the performance targets being met on some amazing last minute 'contracts', and the issue of tens of millions of a$ of performance shares as a result, the red-flag was hoisted. Suspicions were confirmed when the following Q it was clear the pro-rata revenue was a total scam, designed to fleece shareholders (me at the time, and most of you here now) out of your hard earned money. The dilution effect of those performance shares was enormous on each and every one of you. By the following Q, I saw hundreds of red-flags waving in the breeze and it was clear this was dodgy, probably criminal (definitely open to civil lawsuits), and definitely immoral behaviour from a companies management. I fled quickly and happily from this shell designed to enrich senior management at any cost.

    I honestly don't know what the real problem is with the current ongoing suspension. BUT I am very very certain that behaviour of management (going back to the performance share fiasco) forms a solid part of the case against ISX and JK.

    This is all my opnion of course, and the emotions and hope of most investors will not allow you to agree or accept. Anyway, this is why we have markets. Without opposing views there would be no stock market, as we need buyers and sellers to trade.

    I will have a VERY merry Christmas, as I hope every Australian does. - but please do yourselves a favour and stop having blind faith in a company with very very severe and public problems.
 
watchlist Created with Sketch. Add SP1 (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.