The reason people like me focus on missed deadlines is because it does have an impact on share price. Two weeks ago, we are told something is going to happen and then it doesn't. Just as last year we were told weeks prior to Xmas that there would be a joint venture announcement for SdV before Xmas, and then that didn't happen either. Waiting for these promised events causes people like me to hang onto their shares out of fear of missing out. We hang on even as those who know that what is promised is not going to be met (and believe me there are people who do know) short the stock. So this kind of thing in my opinion reflects very badly on the company and its credibility. I agree with you that it probably does not matter if you are a long term investor, as the bumps of the past 3 years will be ironed out in the long run. But I don't want to wait another 2 or 5 or 10 years. I have already been a long term investor and I'd like to cash in some of my shares now if only they were green.
Anyway, I sent that email to the company yesterday asking for confirmation about the shipping, but I believe I already know the promised shipments will not be met. So I am not waiting until the end of the month to fire of a letter to the ASX and ASIC, I'm going to do it now with reference to other past instances of promises not kept by the company and details of the share price fluctuations that correlate with these missed milestones.
Finally, has anyone else tried to call the company and been dismayed at the disinterest or lack of knowledge of the people who take the calls? I don't intent to mention the names of the people who answer the phones at GXY head office, but I do find it disconcerting that they never seem to have any understanding or appreciation of what it is I am calling about. They are very dismissive.
GXY Price at posting:
$1.48 Sentiment: Hold Disclosure: Held
