There was another one just posted before... I find this bit...

There was another one just posted before...

I find this bit interesting...

Mr Kent, who has only been in the role since January, said if he and Ms Riley win the May 15 vote, he will be reappointed as head of the business and would execute the turnaround strategy that the pair outlined on April 12, including reducing costs by 40 per cent and focusing on sales growth.


http://www.copyright link/technolog...ur-months-as-battle-continues-20170420-gvofqt



1-Page sacks CEO after four months as battle continues
The board of embattled listed human resources tech startup 1-Page has forced out chief executive Peter Kent, as in-fighting continues over the future direction of the company.
The move to sack Mr Kent comes at the same time as he and former chief executive and co-founder, Joanna Riley, published an apology letter to shareholders, saying they accepted 2016 was not "1-Page's greatest year" and that they were "profoundly sorry" and were taking steps to correct the issues.
A source told The Australian Financial Review the board would also attempt to sack founder Joanna Riley in the coming weeks, in the lead up to a May 15 shareholder meeting which will determine the fate of the business.
Mr Kent, who has only been in the role since January, said if he and Ms Riley win the May 15 vote, he will be reappointed as head of the business and would execute the turnaround strategy that the pair outlined on April 12, including reducing costs by 40 per cent and focusing on sales growth.

But if the 1-Page board led by non-executive director Andrew Chapman of Merchant Funds Management comes out on top, the company will be shut down and the business will be turned into a shell with the hopes of attracting a startup for a backdoor listing.

"There is no question the company has made mistakes in the past, but i wasn't there and I'm focused on where we're going," Mr Kent said.
"I have spoken personally with in excess of the majority of shareholders and almost uniformly they are supportive of Joanna's stance. The only people I know who are not supportive of Joanna's position is Tod McGrouther (a 1-Page board member) and his partner and family and Andrew Chapman and his undeclared core of supporters."
The recruitment startup is suspended from trading on the ASX and the battle over the future of the business began in December when Merchant Funds Management began buying up 1-Page shares.
The disagreement has been centred on the cash burn rate of 1-Page, which until recently had been more than $US1 million a month. Currently it is down to $US600,000 a month.

On Thursday 1-Page also released a statement to the ASX detailing the company's sales results for the first two months of the 2017 financial year showing it recorded a loss of $US1.35 million on revenue of $US198,055. But this figure was said to have been boosted by a one-off payment of $133,000 under a 90-day deal for non-recurring professional services work.
1-Page also reported that its recurring revenue had declined to $US15,240 a month and it had a net loss of 11 customers in that period.
Mr Kent and Ms Riley have been angered by the 1-Page board's refusal to disclose to the ASX that it had won seven revenue-generating deals with Fortune 1000 companies in the last few months, but a source said these contracts were on a trial basis and had no minimum revenue or tenure.
Mr Kent and Ms Riley have also taken aim at the 1-Page board's decision to increase the executive chairman John Fennelly's salary by 160 per cent to $US125,000, back-dated to October 2016, at a time when 1-Page also made 30 per cent of its staff redundant as part of its cost-cutting regime.