IMHO
I contacted ASIC about 3 weeks ago and you do not hear back unless they have a query regarding your complaint. I hope that everyone has contacted ASIC and I am sure that if they receive enough valid complaints that will pursue this issue.
In light of the recent revelations about the huge debts that they now carry when they were still over spending is very concerning. I took comfort in the Seek ad for a truck driver thinking that they would use labour hire if money was tight but that is apparently not the case.
Also the purchase of equipment rather then hire is another example of excessive spending when you cannot pay your bills. Have they been trading whilst insolvent? If you cannot pay your bills when they are due and payable and you don't have any cash or any line of credit is this not insolvent trading? I will contact ASIC regarding getting access to their financials or maybe ASIC can do this. If someone on this forum holds enough shares they can also demand financials I think.
Also why would a company spend excessively when they don't have any money unless they have an another agenda. This capital raising which is unbelievable in light of the massive over spending is not in the best interests of shareholders and these questions need to be put to our directors which only ASIC can do at this stage.
It is no good waiting until the last minute to contact ASIC as it is much harder to undo things, so everyone please contact ASIC now
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
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