I couldn't care less if they said at the AGM the divvie was going to be paid in 2099. It has 50m cash in bank, there is no reason they can't. And lets be real, they would have just said that at the AGM to appease people from throwing them out the window. I'm sure they knew they weren't going to be around to pick up the pieces
But as Ironman rightly pointed out, they have moved on 4 Australian directors now and replaced with 3 Chinese. That tells you all you need to know- there is NO reason this share price will turn around
We're been bent over and rogerred with a splintry broom handle, it is a disgrace. What it has also shown is that corporate Austrlia has no idea how to turn these companies around.
What fool would invest in another Chinese IPO. Its musical chairs. Benny Qui is also Chairman of another mega fail Chinese company SBB. I mean why on earth would anyone choose him to fix this mess? One of the Andrew's was also on SBB, don't know if he is still there. That's another one of those from 25c to 1c stocks down 95%. The other Andrew is now fronting Eagle Health EHH, down 20% from IPO within a week, watch that fizz.
XPD. Best buy on the ASX, going nowhere, worst board. All a 1c dividend will do is take the share price down 1 cent to 2.7c unless they do something better.
XPD Price at posting:
3.7¢ Sentiment: None Disclosure: Held