Ann: Annual Report to shareholders, page-2

This one is a goodie

4.2 EVENTS AFTER THE REPORTING DATE

No other matters or circumstances have arisen since the end of the financial year which significantly affected or could significantly affect the operations of the Group,the results of those operations or the state of affairs of the Group in future financial years.


Umm, how about the one where the fund manager comes out and sells its largest client to a competitor, acknowledges it was out of its depth with microcap investing and will now be focusing instead on the large/ mid cap sector?


4.4 FUTURE DEVELOPMENTS AND RESULTS

The Group intends to continue to consolidate and grow its position in the funds management sector and expected results of operations in future financial years are likely, in the short term,to reflect the Group’s life cycle status as it funds the growth phase of its operations. There are no other likely developments which have not been included in this report.

Umm, how about the development where the fund manager will no longer include CTN payments in quarterly revenues but instead book a massive profit through on-sale of its largest revenue stream?

Not worth a comment either no?

REMUNERATION
Mr George BoBoo $1,156,976

Thats ahh, a bit of money when you consider how small the company revenue is and that it is bleeding clients, money, and has bottom decile performance, no?

Granted that $758,478 of that was issued via shares but considering they were issued at an average price of $0.31cents I'd day that's pretty generous

Oh hang on

1 2,425,938 shares were issued during the year under the ESIP and ESLP share plan to Mr. George Boubouras with an additional 1,166,479 shares issued by the company to Mr George Boubouras for nil consideration

Free eh. Not bad if you can get it


NOTE 33: EVENTS OCCURRING AFTER THE REPORTING DATE

No other matters or circumstances have arisen since the end of the financial year which significantly affected or could significantly affect the operations of the Group,the results of those operations, or the state of affairs of the Group in future financial years.

Yeah, I'm really struggling to swallow this sentence


EMPLOYEE SHARE OWNERSHIP
Looks like staff are neck deep in this baby. 5.6m shares issued in year. I would like to know what the pay back terms are if this company is wound up or goes to 20cents. Who lent them money, at what price did they buy, how long is pay back, how long are escrows, what if they leave/ redundant. This is a long way going back to $1.85


TOP 20
Good to see staff in there, Vic Plummer is a strong name as well.