MEM 25.0% 0.5¢ memphasys limited.

my lips now have to be sealed, page-5

  1. 867 Posts.
    RB,

    I guess that means that your questions weren't asked and/or we're not going to see answers. And after all of those promises? Even a promise of the tough questions to be asked at the AGM. Your timing for this post(while the AGM was being held) seems odd, almost suspicious, certainly given that you had made commitments which may have encouraged others to not attend the meeting and how you were such a strong advocate and then went ghost as though assassinated. I guess now the validity of your posts will have to be seen in the light of history and in light of how your announcement parallels nicely with the way the board departure announcement was made.

    I guess this forum will just have to live on without you.

    We're back to being mushrooms, just as the board/management like it. Not that I believe you did shine a great deal of clarity on anything. There we're a lot of "you'll find out soon" or "If only you knew" type of posts that we never did find anything specific about.

    So are there any updates from the AGM? We're any questions asked/answered?

    1) Are we clear of ASIC? What was the substance of the allegations? Will they be taking legal action against the past auditors?

    2) Why did all 3 directors jump at the same time? We're they sacked as RB had suggested? Does the fact that there were 2 new guys to jump in straight away suggest that they we're in fact given the directors' equivalent of a "pink slip"? Is there a reason why the board (with only 2 common directors through the last 4 AGMs) have now been through 5 directors in less than 12 months? BTW, all of these 5 were "appointed" by the board and not a single shareholder proposal was included.

    3) PRIME is supposed to be at first sales in June 2012 (according to 2010 AGM) and June 2013 (according to 2011 AGM. What is the time frame now? I suggested in a previous post that they might again declare it was 18 months away, again. So is it June 2014 now?

    4) Every AGM, they have had some new "latest big thing" announcement. What is it this year?

    5) Where is the funding at? When will the money be received from Mr Goh? Why is he not being charged "interest", like the rest of us shareholders?

    I guess RB's credibility is shot by his own promises not met. With the benefit of hindsight and the knowledge of how this company acts, I guess this should be expected. I will be looking back through the posts with a new set of eyes. Given this and his (I assume) staunch defense of JM, does this now highlight Mr Manusu specifically? RB was also a strong defender of Mr Goodall. Is AGs credibility now in question? Are the operating as a team and were they all responsible for the illegal activities highlighted by the company's auditors? What about Hari Nair? Does RB's lack of mention suggest he is not part of it all? He's been around for a decade and has been with Mr Manusu the whole way. But RB never made mention, I believe, of Dr Nair.

    It will be a shame to now have a large majority of posters here with a common view. Those who do watch will probably now have more questions in a more concentrated (ie less discussion) form. For the new reader to NSP.AX forum, don't be expecting too many answers here.....
 
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