Alloy Steel Inc. (fka AYSI)

[greasemonkeyshoes]

"(Gene is)Buying loyalty with your money," I posted on Yahoo 12/11/2011 based on
".......Director Compensation......Beginning in the fiscal year ending September 30, 2011, the Company will pay a director’s fee of AUD $75,000 per annum to each non-employee and non-executive director........" See page 3

http://www.alloysteel.net/media/pdf/AYSI-AGM-Information-Statement-2011%5B1%5D.pdf

Instead of me sounding like a broken record,repeating why: get out now;buy it back when form 15-12g is lifted or when Gene is reigned in!! It just not worth it. Again,AYSI.OB was my flagship,had big hope,down graded the investment,when it became obvious the company hinged on one man,GENE: out of control and red flags abound!And triggered the "sell signs."

My sell rules: "3 Sell Signs" by Motley Fool:
"...No. 1. Selfish management........Tom(author) calls this the "worst possible development" for any of his companies. If the executive team starts worrying more about lining its own pockets than creating value with the business, it's time to let go. For clues, keep an eye on excessive compensation, active insider selling, declining market share, and aggressive accounting. A classic example of the latter occurred at Cendant a number of years ago under a previous management team -- which, at the time, was one of the largest cases of accounting fraud ever....."

http://www.fool.com/investing/general/2009/01/03/3-sell-signs.aspx