I have reviewed SPT's latest results on 31/08/2021 and I like to pose some questions for you all.
First question: The company achieved USD $172.5 million of market sales volume this year. -- Yet, the new CEO will be issued with performance rights in the following manner: 500,000 - if achieve market sales volume (MSV) of USD$140 million to $160 million 750,000 - if achieve MSV of USD$160M to $190 M and 1,000,000 - if achieve MSV of USD$190 M or more.
Isn't it ridiculous for the new CEO just to carry on the same way and achieve the same outcome with little effort and still achieve the 750,000 performance rights?
Second question: SPT raised $90 million in 2 tranches of capital raising in 5/08/2020 and another $10 million on 18/09/2020 from the heavily oversubscription of shares value at $89.5 million which SPT had to return the money to the unsuccessfully share holders. Together SPT raised over $100 million in funds. Yet in the latest recent report dated 31/08/2021, SPT only has $66 million left. How did SPT spent over $34 million in just one year?
Third question: After spending $34 million in just one year, it only achieved gross revenue of USD 5.5 million (A $7.49 million). How can SPT justify spending 4.5 times more money to achieve gross revenue of $7.9 million?
Please response. Isdhope
SPT Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held