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Re: [sharechat] Shareholders Association, E-ventures

From: Chris Darby <>
Date: Fri, 28 Apr 2000 22:05:29 +1200


A similar group here would find themselves equally busy at company AGMs.  
Bruce Shepherd showed what is possible at the last BRY meeting.  What a 
flag bearer he was for the disgruntled many.

Makes me think about an item I heard on Morning Report today. 'E-ventures 
are not forcasting any first year revenues or profits'.  I found myself 
shaking my head in disbelief upon hearing it.  What sort of business plan 
is that?  My lawnmowing contractor has revenue and profit forecasts.  

Of course, E-ventures lenders would have demanded such figures but with 
100% scrip funding they are not around to ask.

How does the situation look for readers of this forum who are keen on 



>Hi All,
>      Just thought I'd share an article I read in "The Australian" re-
>Australian Shareholders Association.
> <"The ASA today will begin ambushing the annual meetings of dotcom
>companies who overstate prospectus revenues and give inadequarte profit
>projections.NRMA president Nick Whitlam will be the first target as
>chairman of software investor Liberty One,whose shares have halved in
>the past month.ASA deputy-chairman Ray Wagner said yesterday the boards
>of dotcom companies had to back up their revenue projections and justify
>their management appointments.[We will be putting them through an
>iquisition etc and they will have to satisfy us that they have revenues
>to keep themselves afloat and have good prospects in the not too distant
> that we mean 18 months to two years and not five years time]
>........Cowboys are no different here than they are in the USA....the
>standout opportunities of today are the dogs of tomorrow......
>  Recently some questions were raised about Solution 6 managing director
>Chris Taylor's past and his suitability to head the company.He has a 
>conviction for importing or possession of cannabis into his USA and
>apparently run a company which had debts of many millions and layed off
>of a few staff.
>  Just thought I'd share that and start to wonder if the NZ market needs
>a similar group here,considering all that has happened!!!!?????
>Comments please!

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