Yeah I agree the company has obviously performed terribly. But I...

Yeah I agree the company has obviously performed terribly. But I think your a little off on some of those points.

"this is a company started by 2 guys who wanted to have a good time and be trendy"
You clearly haven't been to an agm or even know the companies history. Started as an ebay store selling last years clothes cheap. Hardly a business trying to be trendy, but rather grafting and trying to make a buck on a margin in a neiche. In any case retail aimed at young people needs trendy types.

"IPOed at a price level that is borderline criminal/insanity" not really, your going to need to explain that. Based on the prospectus the listing seems pretty fair and the market treated it so.

"management briefed selected group of investors 1 day before a profit downgrade." Yes this is dodgy as all hell and they should be held account if they have breached disclosure obligations. But at the moment we don't know what what spoken about and every company speaks with its major investors on a regular basis.

" overpriced acquisitions with parties that has vested interests " Specifically which acquisitions are you talking about. They didnt pay a big premium for these assets and they raised money comfortably at a sp much higher than where it is today.

"2 profit downgrades in 3 months or whatever turning a profit into a loss for the year" Its not really that problematic, they have cash to cover it and integrating the assets was always going to be expensive. They have had underlying sales growth (although I think they payed way to much to achieve it).

"Potential class action against the company" most of the people involved will be major holders who won't want to see it destroy the company and will probably go after their insurer if they have been found to have done something wrong.

At the end of the day we are all here to squeeze a buck out of the market and I think SRF is very attractive at 18.5c. Assuming they reach their goal of return to "profitability" next financial year there is probably a pretty penny to be made.

Also I expect some of the usual PE suspects to show up soon and I wouldn't be surprised if you saw a few low ball offers thrown out just to see if they can see the books. PE has done very well in the action sports retail sector in recent years.

Anyhow I think the tone of the threads here should change, this sub forum has turned into a bit of a toxic pit of gloating and name calling. Everyone should drop the personal stuff and focus on robust discussion. Everyone is on hotcopper for the same reason people should get along.