4 questions lodged at 2025 Dotz Nano virtual AGM
May 30, 2025
Below is the text of the 4 written questions submitted at the 26 minute Dotz Nano (DTZ) virtual AGM held via this Zoom link on May 30, 2025. Was the only shareholder asking questions. See 41 page notice of meeting and this addendum to the NoM released on May 21. Market cap $28m on AGM day . See package on 4 written questions submitted at earlier EGM held in January 2025.
Q1. Is a recording being made of this meeting and will it be published on your website for the benefit of the hundreds of shareholders who were not able to tune in live to today's AGM? I had 5 other AGMs to attend today because you have clashed with 37 other disorganised public companies holding their AGM on the last possible day of the season for companies with December 31 balance dates. Please hold your AGM earlier next year.
Answer: Chair Bernie Brookes said a recording would be provided and pledged to bring forward next year's AGM to avoid the last day rush. Bravo. Watch video of exchange via Twitter.
Q2. Resolution 5: "I'm against selective placement raisings and prefer pro-rata. Will you offer retail investors a share purchase plan to make up for the dilution from all these placements and also consider doing pro-rata raisings in future?"
Answer: Chair Bernie Brookes gave a long-winded response with plenty of platitudes but was wrong to suggest retail can participate in placements. They have to be deemed "sophisticated" for this to happen. Watch video of exchange via Twitter.
Q3. The latest audited accounts show that we've wracked up $53 million in accumulated loses and are down to our last 369k in terms of net assets. However, even after the recent disappointing share price performance, our current market capitalisation is $28.3 million, which is 77 times what we claim we're we're worth. Does the external auditor, Ashleigh Woodley from BDO, agree that this suggests we've been too aggressive with previous write-downs and could chair Bernie Brookes also comment as to why our balance sheet bears little resemblance to what the market thinks we're worth?
Answer: Chair Bernie Brookes said Ashleigh has done a great job auditing the books for the past 4 years and would send through a written answer, which suggests he wasn't on the call although Bernie didn't actually conceded that. Auditors are meant to be available at AGMs to answer questions. Watch video of exchange via Twitter.
Q4. Resolution 14 question: "I'm not generally a fan of brokers being paid with stock because it can lead to excessive Rene Rivkin style spruiking to retail investors by that broker about the company's prospects when they are later looking to offload. Couldn't we have just paid cash and will you undertake not to do this next time you raise capital? Also, who owns Evolution Capital?"
Answer: Chair Bernie Brookes explained that they were desperate and needed to preserve as much cash as possible. Watch video of exchange via Twitter.
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