$124,180 for me. Seriously fucked situation.
It's a terrible situation.
Many of us are thinking, if we had the benefit of hindsight we would never have invested in this. Not hindsight of the share price decline, but hindsight into how we were going to be treated by management as shareholders. Kept in the dark with no news. Left to try and work out what's going on in the company ourselves through internet searches, LinkedIn, X, and spending hours on forums. Stuck with FOMO or worse, desperation to not actually to convert an unrealised loss into a realised loss. Everyday feeling angry.
It was pointed out on the other place by a poster, that in the entire time Sean has been at the helm (since 2022), the company have released 2 price sensitive asx announcements relating to customers (2 in December 2024). I looked myself on the ASX website, and this is correct.
We all understand the risk of investing, and are happy to take on these risks, when we have companies that set clear goals and targets and keep the marketed updated. That's real investing, and then you can make "educated" decisions around your investment.
But instead we are stuck in a black hole with nothing but hope and words like "watch us now", "we have never been in a better position etc" , because we have no real idea what BRN's goals are, or how they are progressing towards them. No updates on the roadmap and how we are tracking against it.
The most we have is a random booking target of $9M USD for Sean set almost 9 months ago, with no way of knowing how that is tracking. And also that target has not been put out in writing ANYWHERE by the company it was only discussed at an AGM that the company, refused to post online.
So now we'll all have to wait for the Annual Report coming out soon and see what % Sean has achieved. See if the target is actually still $9M USD, because I would not put it past them to dispute that they said this. But even then, there will NO data behind it, no information from the company, just more silence.
A booking target, that will not necessarily even turn into revenue, yet Sean will still be rewarded for this. Just remember what a booking actually means.
I've been holding on for years, but it's truly hard to understand the thought process of management. Just sticking their heads in the sand and ignoring shareholders.
What a total shambles. I have a chance of making my money back (if I'm lucky), but how many shareholders out there bought at $1, $1.50, $2 or even more. It's just consistently poor behaviour from the company. It's a very sad story indeed!
