CRO 2.33% 8.8¢ cirralto limited

Dear Wendy, I agree that this is definitely not the forum for...

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  1. 418 Posts.
    Dear Wendy,

    I agree that this is definitely not the forum for you to discuss your legal issues with the Company. I for one hope that these can be resolved as soon as possible. I don't profess to know all that much from the past but have read through the publicly available information on the ASX and based on this i think you are confused/mistaken as to the timelines.
    ------
    FROM ASX RELEASE ON 10th August 2011

    Consequently Mr Frank Cannavo, Mr Terence Wong and
    Mr Jason Edwards have all agreed to resign from the
    Board with immediate effect.

    -------

    ASX release on the 31st of August

    The cBox operating loss for the year ended 30 June 2011 was $153,245. The financial performance of cBox was unsatisfactory and placed pressure on operating cashflows. The business was operating in a volatile market making it difficult for management to achieve any real growth and profitability in this segment. Furthermore,the DNCR (Do Not Call Register) legislation severely impacted new revenue streams to the business.

    The level of investment required to turn around the business would have diverted valuable resources from the Group's core activities and therefore the Board decided to dispose of this business and on the 7th August 2011 cBox was disposed of.
    -----------

    So you see it is quite clear that Edwards resigned from the board on or around the 7th of August - the same time that cBox was disposed of. Seems clear to me. Same information is reflected in the annual report which is prepared by an auditor.

    But again, i am sure this will get resolved over time. Due process by all parties will need to be followed and I suspect that this take time.

    All the best and hope to see you at the AGM.

    Regards

    BT
 
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