FAM (ASX) 7.30 Report.

Originally posted by hoofa ↑

Lets assume.

You decided to set up a business and invite your friends to invest in a business model.

Your business involved a global product that had the potential to crack into a billion dollar market.

Your friends look at your offer and agreed to invest millions of dollars.

Then, after a short period of time you take your money and decide that its’ all too hard, leave the business and hand it over to someone else.

The next thing you hear from your friends friend who has now taken over the business, is that he/she has another product that will focus on the Australian market, has passed all the required regulatory approvals and will be a block buster.

Then, much to your surprise it disappears from view. A VPN

At this point you are scratching your head saying what in the f… is going on here – where is my friend.

Then your new friends say, now we have a REAL deal an app. It will make us all a fortune.

During this period your friends friend and his friends have been paid hundreds of thousands (millions ) of dollars to give you a company that is currently headed for the grave.

My question is – where is the integrity within individuals that have access to millions of dollars of shareholders funds.

In the case of Family Insights, instead of all this bull… about percentages.

How many subscribers are they signing per month, how many are they losing etc.

Be upfront.

What about the lot of them took their fat salaries and consultancy fees in shares on performance.

……………Then see if they have commitment and the capacity to get the job done.

To me it reached the pits when the company finished up in court due to sloppy administration.
How can this perception of a public company attract any investors!

Hence the share price.

One can talk about the business manipulation to get an advantage tax wise or whatever, but in reality if you do not have the Board/Management/Product making revenue and profit

......then that is failure of a business model.

Expand

PS.....by the way we have another weird deal, that involves millions of shares being placed (to add to the billions we already placed ) and the company still has litigation in progress with one of the owners and we are not really sure how it will all a pan out, but believe me my friends we will make a motza.

Oh really.........how can I be subject to this crap as an investor in the original Wangle business model.

I just wish there was someone regulatory authority that could sort this mess out.

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7.30 Report., page-13

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