RE: Web traffic up 5%8 Aug 2022 18:21
Thanks for the info Wyn. Wasn’t told this at Uni!
Would like to believe in business ethics and accounting practices and that CEOs should always work in the best interest of shareholders ( anyone who buys shares after the initial funding - are buying the exact same contribution into the business that was originally provided for by those particular shares at that time) - so in theory one should have rights.
One would have thought it a mandatory duty for directors to tell the whole truth to shareholders at presentations etc - which are their to update current shareholders.
How in March presentation could CC and TP tell shareholders that all was moving forwards with no need for capital raise or selling the company etc and this year they would spend 1.6 million leaving 3 million cash for next year —- only to be updated recently with such dire circumstances.
A shareholder often thinks time will fix things and so will patiently sit out the bad spells - but what have this bod done? End of June 1.5 million cash left with 900K back drawdown ( seemingly to pay for stock) — what choice does such a situation leave longer term investors with?