I was in the conference today with 20 or so shareholders...

I was in the conference today with 20 or so shareholders including the 2 board members and Rob Gibson (previous director). The CEO was busy with auditor in China at the moment. We also had an accountant from auditor firm onsite.

The overall impression of the meeting is neutral potential for the company future.

We have a unknown, disengaged and disappointing CEO but profit making business with 90 millions value worth of business (worth about 20 cents per share)

The business is doing ok but cost is building up.

Speaking to the 2 new directors and they felt that the CEO was genuine and trying to lead the business and misled or misguided by previous Aussie directors. His shares was sold down by the brokerage firm and he did not know he was required to report them. The CEO has tried to amend the mistakes by appointing the directors and paying all the due expenses.

Lots of people concerns about getting access to the cash and wanted to stop paying the previous directors the overdue fee since they did not do their jobs.

They were talks of plan B either selling the business or get delisted to go for other exchanges. The directors are investing if there is any possibility to get money transferred to OZ and the CEO has agreed to transferred some cash monthly to pay for the expenses here.

We queried about the cash in and out of the CEO's personal account and the answered given was he used it pay for company debt and no evidence of abuse here.

I would like if everyone is on board including the CEO, this would be a remarkable turn around story. The current priority by the board was to get the company relisted (ASX has been very tough on the compnay at the moment) then they would look into about the future. One step at a time. The dividend will come next year if the board is successful to implement those basic requirements currently.

As long as the company is profitable and the CEO can work hard for the future, we will do well on this one.

Time will tell