have been on the sidelines listening to the rotto and down south...

have been on the sidelines listening to the rotto and down south stories - as a shareholder I am now going to query the ASX.. it is unbelievable that it is being run like a private company.

My ASX query will be as follows
1. Why has the company not reported yet or given guidance that the first half of 2017 is significantly down from H1 2016.
2. The company has significantly scaled down operations and now seems to be focusing on acquisitions. The brokers inform me they are chasing a civil company and another commercial electrical mob. Where is the update to shareholders.
3. I also want them to look into the timing of the historical announcements and when the CEO and board upped their stake in the company .

My guess is that nothing will come of it as the ASX and ASIC seem to be toothless.

Also my query to the company will be:
1. What is the strategy? are we transforming into an electrical company to compete against SCEE & Downers to name a few or Civil - wasn't the company's expertise in SMP- if so and we haven't won any work what makes us think we can win work in a new area.

I believe there were too many smokes and mirrors, and perhaps the belgiorno netts guys were fed some of the same story however I find that very hard to believe and think that they will take this company to new heights....

We have lost significant value and we all should be demanding answers... the company without any work is basically a cash box + a premium- so a market cap of around 30 - 40 M being generous... Acquisitions should have been made when our market cap was $55M and above.... any acquisition where the owners get out for cash will not work - not with the current CEO who in my opinion is out of his depth... And anyone who accepts shares will value themselves at a larger premium - existing shareholders lose out (including Belgiorno Netts)... I suppose it is ok for the Bontempo's who's stock is at an average price of 5c to 7c..... Am not begrudging him making money but it is at the expense of us mum and dad shareholders. Also, I believe the CEO acquired shares in the company before coming on board and knowing the likelihood of the Gorgon works (which basically made the company a lot of money). So again, for him a 4c buy in and a 19c share price isn't bad.. shame for all us chumps that were in at 18c and above.

My broker contact is also confirming some of the comments in the previous posts (ha ha perhaps we are all talking to the same guy).

the question for all of us is - what has the CEO delivered since coming on board.... looks like with Daniel Hibbs leaving the company the work has dried up - my feeling is he checked out long before November and lost interest given an inexperienced CEO was put in above him...

Anyway, if anything the purpose of this post is to get some answers from the company... I will keep everyone informed on what response I get from ASX...