IMO this is good news as it shows that DF is aware of what is happening and of the potential consequences but he's actively trying to get things back on track.
Goodness knows there have been setbacks that he's had to deal with: auditor delisted, all of the problems with Smith and Morris subs which resulted in needing to find another auditor but guys, he's trying to deal with this.
The other more important thing for me is that the 8K and copies of the correspondence attached show that he's being open with us and the authorities and he's trying to get the company back on track.
Remember that most of the problems with debt management and non-payment are legacy related and go back an number of years - he didn't create this mess, he's just trying to resolve it in the best way that he can for all concerned and most of the agreements that he's made are in the best interests of IFCR and the creditors.
He could just declare bankrupt and wipe out the debt - that would be a disaster for everyone, especially us shareholders...
The R/S of 1:10 would be a better outcome for us shareholders than a 1:1000 but it's still an R/S. Certainly there's a better chance of a big upwards movement from .001 than 0.10 and hopefully there's some news to come after any R/S, if it happens at all - he may decide not to bother, especially if there's a chance of going into private ownership.
I agree with many of you that the communication could be much better but I do genuinely believe that he's doing the best that he can in difficult circumstances. Let's look at these latest releases as evidence that he's fighting to get the company up to date. and cut him a bit of slack..
Seems to me like people want the bigger returns that investing in pinks bring but they're not prepared to accept the GREATER RISKS that are involved...
Good weekend everyone...
Per Ardua Ad Astra
AI
