Pinned straw:
Another one bites the dust. This may be one of the biggest piles of shit I've seen for a while. Good riddance.
Commiserations to anyone who got roped in.
Not a company that I follow or even knew of before the post above by Remorhaz.
Below is an extract from the 2023 annual report released to the ASX on the 1/8/23. 3 weeks later it is in administration.
If there was ever a reason to be skeptical of management and management guff it is this.
Glad I didn't stick around to see what Modus could do with this turd. Has to be my worst investment ever regardless - just terrible decision making. Oh well, you don't lose the lesson :)
Genuine pile of proverbial.
It's hard to get your head around how anyone thought these economics were ever going to make it. $4m on marketing?