Hopefully the new company secretary will have the guts to tell the board that they are responsible to the shareholders, and that that means reporting to them on a regular and timely basis. By the name of the new secretary, I am not confident that the Chinese way of doing business is likely to bring any joy on this front.
We have had no updated trading figures since June 30, 2018. Surely a quarterly sales figure, as a minimum, is not beyond their administrative talents.
I did visit their registered office in Queen Street, Melbourne about 2 weeks ago, just to make sure they actually exist, and yes, the office, with branding, displays etc. did exist, but I found no person to actually talk to.
I am now quite concerned about this organization, and am only holding my interest as a "high risk" mover, with little further potential loss. I could not recommend others to make a purchase at this stage.
The Board need a good kick up the back-side!!
EHH Price at posting:
16.0¢ Sentiment: None Disclosure: Held
