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Old 30-10-2018, 11:21 AM   #13
Join Date: Nov 2017
Posts: 224
What’s this saga about?
It was a long story but in a nutshell, we were scammed into buying shares of a technological company founded by Jason Huber who promised huge returns when it goes IPO. There was an EGM in 2015 to oust him out when he didn't pay salaries & rents for months. In order to save the company, 2 shareholders raised S$28m to keep the company afloat.

However, the present board used the money raised after the EGM on spurious litigation on the 2 shareholders who raised the fund instead of running the business. This was made worse with an ex CEO who drew big salary, made big promises but FULFILLED NOTHING in the years he was in office! Many of us suspected that the litigation was instigated by him & the chairman in order to divert our attention from their incompetence.

Now that the company has run out of fund to run the business, what is going to happen to > 2000 shareholders who pumped in their life savings into this company?

We repent of our greed for money in the 1st place & we are praying for God's intervention in this mess!
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