ALLIED BRANDS LTD. on Monday asked for a "trading halt" pending an announcement on an acquisition - the announcement to be made by open of trading this morning.Little surprise to those inside the company that this was another LIE by the company, and now the ASX has suspended quotation in the shares. The company says they need "more time".
Over 2800 "hits" on this website since Sunday night indicates that the corrupt actions of this company and parent Dunkin Brands are getting widespread coverage and making it all but impossible for ABQ to continue the pyramid-type actions they have been engaged in. The widespread flight by Baskin Robbins and Cookie Man franchisees, as well as the continued CASH BURN by ABQ (with huge bonuses being paid to non-performing management) is now seriously being investigated.
The ASX already has several concurrent investigations underway, as does the ASIC.
The biggest question - why was so much cash needed a few months ago to buy an all-but-bankrupt "Villa & Hut"? Where did all the cash REALLY go? And when is the company going to disclose the full nature of legal actions against Peter Graham & David Graham, for which the Allied Brands has massive liability?
More lies by Allied Brands, - is anyone surprised?
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