I saved this one for future refrences
Yes, I saved it for future references as I was sure that it would have come handy.
It comes from another NXS shareholder/poster which, like everyone else invested in NXS at the time (ME INCLUDED), lost everything.
It is all about Nexus and what happened to shareholders there while they lost everything all for a ruthless billionaire which IMO couldn't give a damn about the poor mums and dads savings while only thinking of increasing his large amount of billions of dollars already held at their costs.
Read below and Dyor.!!
Good luck as IMO we will need plenty of it with this mob.
Post #: 13908785
I thought I would take a step outside of Nexus Battle to clearly outline my personal thoughts and my actions to date. Personally, I have worked very hard throughout my life to build a variety of businesses and have invested unwisely through the GFC to lose everything. After this, I scraped and borrowed enough to invest heavily (in relative terms) into NXS with a margin loan, in what can only be considered a horrendous move and obviously I did not learn the first time. The damage this has done, and will do, to my family will take decades to recover from, if we ever recover. Having said all this, we all make decisions and whether it is brokers, independent reports or our own analysis, we must live with what occurs in life. Hindsight is like foresight but without any future.
My actions to start Nexus Battle and put my name out there as the face of our small, yet dedicated team was to stand up against what I consider a series of significant concerns or red flags, added to by the unethical takeover of Nexus by somewhat related or prior-relationship parties. I could write a wealth of dot points that would clarify why this is simply wrong, but we all know them. My hundreds of hours devoted to this and taken away from my life, my business and my family was based on two things. The first being to fight against an unrealistic and unfair offer, and second, with my knowledge of Nexus (through both direct communication and public announcements) it now seems a foolish ethos that those who are paid to return shareholder value would do everything in their power to do so.
In businesses I have owned when we have struggled we have reduced hours of team (4 day weeks), moved to cheaper premises, taken up to 40% pay cuts from senior team and done everything in our power to continue revenue coming in whilst every fibre of the business is designed to keep afloat and over time get a return on investment for owners of the business – shareholders. We have not continued on same pays (huge question mark here), agreed to revised agreements with less cash coming in now, kept externals and expensive edifice of previous life when money was not an issue, but this is only me and what I would of done in this crisis.
I know many have asked what we are up to and questioned why we or anyone voted no? Fair questions, but realistically the larger shareholders had already voted no and everyone had to make a decision for themselves, as was communicated to all people we spoke to or on the NexusBattle website. Just to add the final tragedy in this Shakespearean drama for myself, I was required to cough up an additional $60k to cover my margin loan on the close of Nexus.
To the Nexus Battle members I want to thank you personally in what can only be considered a fight equivalent to David’s much younger and weaker nephew against Goliath. We have faced significant personal pressure, which I will not go into further, and we have sometimes made the wrong decision or had a misstep along the way, but I would like to thank the team for the literally thousands of hours and too numerous phone hooks to counter the SGH deal and the Swiss cheese IER. Our ethics have been unquestionable and the principle we fought is for bad things to prosper, good people simply need to do nothing. We have also welcomely requested help along the way, and for those that did we truly appreciate your help.
Where to from here I believe you are probably asking as this feels a bit like a Dear John letter? Well it is not, and I implore you to write and complain to ASIC, write to your local member, write to SGH, write to the Federal Minister for Energy. I am sure A Current Affair would welcome people interested to put their name and face in a Battlers versus Billionaire tag line as there are 9000 Nexus shareholders that have been adversely and unnecessarily affected by this. What has transpired here must not go unnoticed, and change must happen as this will be a test case for years to come. When has over 40% of the shareholding agreed to accept nothing – this event alone is nearly unprecedented in Australian corporate history?
Please stand up, do not give in, and attack as you have a voice.
I am sure there are people who will read this that will have something that will be of help to the large holders and the NBT team. This is not over and if you have information that is pertinent or relevant in the next steps phase I implore you for the many who have suffered and will suffer from this to come forward and we are more than happy to work on the premise of anonymity.
Lastly, I stand by my ethics, morals and business relationships and I know I will never be a billionaire, or probably even a millionaire, but this is not about money this is about being bullied unnecessarily by SGH to achieve cents in the dollar that destroys, yes destroys, those who believed in Nexus and the management team.
NXS Price at posting: 1.3¢ Sentiment: None Disclosure: Held""
SVW ( SGH ) don't mention the NXS business much in their reports , almost if it was a blunder best over-looked ( unlike their stakes in BPT ,and BCI )
Coffee had a massive win with qld gas and oil, and all these other company failures, mean nothing. At least he is trying. How's John going in his new job?
adds04, I think they are all tarred with the same brush. It is only the colour of the feathers available at birth that makes the difference.
"Would be if they could be" that is what I call them and full of personal ego and greed while living in their own small world. Some of them they would even sell their mothers for a buck without even blinking an eyelid. Friends aren't friends anymore either, rest assured of that too. You are only a friend when they need something form you. After that you are no one............................Dyor.!!
###Buddy most of it is luck and being at the right place at the right time###
You should have included knowing the right contacts at the right time, once you have that its real easy to make money.
Dear oh me what ever happened to all the posters in these threads.?
Are they all safe and well.??