Agree with this - just saw the trading halt. Others on the forum here picked it. Will you be taking part ? Feel like I’ll have to, depending what they say I guess.

I’m sitting on a pile of cash so won’t say no if the sp dropped below 12c.

I sold out last month at $0.175651(average price received in real money portfolio), but I was wrong last year when I defended their decision to pay that small special div, saying that I didn't mind that and they did have form for returning excess cash to shareholders occasionally; Well, as it turns out, it was NOT excess cash, or they wouldn't need to raise now. I did change my mind during Febuary, hence selling out of AVA in late Feb when they reported, and what changed my mind was (a) their low cash position, and (b) their delays with their pathway to consistent and growing profitability. I then reclassified the company as a high risk microcap because while they have good products and a reasonable business model - that does need some tweaking it seems - they do NOT have good management, at least their management have NOT demonstrated good capital management decisions, which is one of the primary roles of the senior management and the Board of all companies.

GOOD management are upfront with the challenges they face, they are REALISTIC about their timelines, they do NOT overpromise, and they DO make smart and capable capital allocation decisions. AVA management do not tick those boxes for me now, so I'm glad to be out.

The dividend policy and stupid projections did come out before Mal arrived. So far I’ve seen plenty of positive signs from the new management team.

The company survived with solid products and services when running by management on crack. Let’s see if it would thrive under a more reasonable CEO.

My only concern is that the executives might get affected by some old fuck on board bitching about not getting enough dividend.

The thing about paying special dividends, or dividends at all, on a loss making microcap is that none of your shareholder base is there for the dividends and you aren't going to attract dividend investors because you pay one. So, it's really just, at best, a pointless corporate action and at worst you have to turn up 5 months later asking for the money back.

These sorts of things always feel like management trying to be too smart by a half.