The board of ASX-listed Dubber has fired cofounder Steve McGovern as CEO over $26.6 million in missing company funds. In a statement to the ASX late on Tuesday night, the company said they terminated McGovern’s employment yesterday after investigations over the last five weeks into the missing cash alleged that “McGovern and the trustee were… Read more »
The Australian Securities and Investments Commission has stepped in to prevent ASX-listed Dubber’s CEO and cofounder, Steve McGovern, and lawyer Mark Madafferi, principal of North Melbourne law firm, Christopher William Legal, from leaving the country as investigations continue into $26.6 million missing from the business. The corporate regulator applied to the Federal Court on March… Read more »
ASX-listed voice data company Dubber is borrowing $5 million in bridging finance from existing investor Alex Waislitz to solve a cash flow crisis after more than $26 million of the company’s funds went missing. Tiga Trading, a company associated with the Melbourne billionaire’s Thorney Investment Group, is stumping up the cash as a loan secured… Read more »
Kogan.com chief financial officer and chief operating officer David Shafer has sold two million shares in the online retailer he cofounded with Ruslan Kogan. Shafer sold at $8 a share on March 7, worth $16 million, taking his stake through Shafer Corporation to below the 5% threshold of being a substantial shareholder in the ASX-listed company.… Read more »
ASX-listed voice data company Dubber is on the hunt for more than $26 million in missing funds, with the company’s CEO and cofounder, Steve McGovern, suspended, along with its shares (ASX: DUB) as investigations get underway. The issue came to light as part of the audit review for its half-year accounts to December 2023. Dubber… Read more »
Expanding internet service provider Aussie Broadband is weighing its options after fibre infrastructure operator Superloop rejected as “opportunistic” a proposed acquisition that Aussie said would have created a serious market rival to “incumbents” Telstra and Optus. A merger of the companies – which would have created a “scale player” providing a wider product offering to… Read more »
Online retailer Kogan.com is back in the black and will pay its first dividend in three years after posting a net profit of $8.7 million for the half-year (1h24) to December 31. It’s a turnaround of more than $30 million on the $23.8 million half-yearly loss 12 months ago and comes despite a 9.9% fall… Read more »
About this time four years ago, China-based analyst and short-seller J Capital took its third stab at ASX-listed WiseTech Global with a report headlined “WiseTech may be the first corporate death from Covid19”. This week the logistics software company (ASX:WTC) was very much alive and kicking with its share price hitting an all-time high, above $90,… Read more »
ASX-listed semiconductor business Weebit Nano is adding entrepreneur Naomi Simson to its board as a non-executive director (NED). Simson, who founded online experiences marketplace RedBalloon in 2001, is already busy as a company director, sitting on several boards, including Big Red Group, RedBalloon’s parent company, as well as Australian Payments Plus, Colonial First State, University of… Read more »
Former Wisr CEO Anthony Nantes is facing criminal charges, the ASX-listed fintech has revealed, just days after it sacked him as CEO, with his brother and the company’s chair, John Nantes, taking a two-month leave of absence to avoid any perceived conflict of interest. In a market update on Monday, the Wisr (ASX: WZR) board… Read more »
Shares in online retailer Kogan.com fell nearly 14% in early trade on Tuesday after the company revealed sales had fallen 28%, revenue dropped 32% and the business posted a 26% fall in gross profit for the 2023 financial year. The statutory net profit after tax (NPAT) loss was $25.9 million an improvement on FY22’s $36.2… Read more »
ASX-listed tradesperson platform Hipages Group has conceded to regulator the Australian Competition and Consumer Commission (ACCC) that it potentially engaged in misleading or deceptive conduct over four years involving its subscription renewals and termination fees. The ACCC said the company’s actions were in breach of the Australian Consumer Law between October 2018 to January 2022… Read more »
ASX-listed biotech Emyria(ASX: EMD), which is developing psychotherapy treatments using MDMA (aka ecstacy) and psilocybin (aka magic mushrooms), has raised $2.5 million in share placement backed by existing investor Andrew Forrest through the healthtech fund Tenmile, part of his private investment group, Tattarang. The $2.5 million placement was jointly led by Perth’s Sixty Two Capital… Read more »
ASX-listed jobs marketplace Airtasker is the latest tech company to swing the scythe through its workforce, cutting 45 jobs – around 20% of its overall headcount – as part of a drive to become cashflow positive in the 2024 financial year. The redundancies are primarily in non-revenue generating functions the company (ASX: ART) said, releasing… Read more »
The board of ASX small cap IOUpay handed control to PricewaterhouseCoopers as voluntary administrators on Wednesday after a major fraud that siphoned off millions of dollars left the fintech unable to pay its bills. Shares in the Malaysia-focused fintech (ASX:IOU) have been suspended at $0.04 cents since the fraud was first uncovered in mid March.… Read more »
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