Hi Verce
You've been drinking from the cool aid again - you may want to check your cash on hand number its wrong!
In spite of all the cheer leading above - the company achieved receipts from customers of c.$4.7m in an environment where electricity prices have gone through the roof - that's an F for Fail.
Staff costs of c.4m! Well the staff are being well paid to Fail! Good for them. Have you looked at the average wage ... the head of sales has clearly not done a good job.
Seriously are you kidding me ... wake up and smell the coffee ... This is not going to end well for you and or the other shareholders unless something drastic is done immediately.
There needs to be a credible plan to cut costs, and to increase sales. Otherwise the technology is going to end up in the hands of someone else.
Instead of promoting the company with wild assertions related to potential addressable market size etc, you need a dose of reality, ask the board the tough questions.
- How can they get comfort around the current cost structure?
- If the product is so wonderful why have sales Failed to materialize?
- Are they concerned about running out of cash in 2 quarters ... the next raise may be at 1c if its possible at all???
The facts speak for themselves. Just look at the numbers ie the losses of +4m per year over the last 2 years, with no evidence of improvement in sight - just more of the same.
Verce, don't be a bag holder and don't spear other punters into a sinking ship. Unless there is a change at the top and a curb on spending, and an increase in sales this is going to end very badly.
Hope is not a strategy!
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