If its not a going concern, why hasnt the ASX stepped in?Ive...

If its not a going concern, why hasnt the ASX stepped in?

Ive read the annual report in detail, and there are some very alarming points to it.

Why does a company this size need an army of directors, with associated costs, and what value do some of these people bring. Given the net loss of $784k, a good chunk of that could be wiped immediately by removing directors, some of whom seem to have no real experience other than EfTel itself (jobs for the boys?)

Also, why maintain so many corporate entities and associated costs - wrap them up and consolidate.

Expensive office block in Qv1 - whats wrong with the "burbs"?

Product base is lagging competitors significantly - only option is to fight and retain/gain/lose market share based on price - lose/lose scenario

An army of well paid executives - what do all these people do, and how do they contribute to revenue?
A headcount excercise is certainly in order.

Anyway, looks like a lame duck unless they do something to a) reduce costs across the operation b) differentiate product c) market differentiated product d) get telco expertise into the board