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Ann: AGM CEO Presentation, page-121

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  1. 204 Posts.
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    What I meant here is that Fred does this kind of thing (AGM) under sufferance. Each year he demonstrates that the smaller holder is a necessary nuisance that he needs to throw a few crumbs to every now and then. This is his show and he doesn't treat the job like he is a high paid Bank executive that needs to provide great presentations.
    Danny stated in his presentation that proving and demonstrating to Shareholders was just not a high priority. They are focussed on demonstrating to people that matter and that is not you and I with our smaller parcels of shares. They gave away precious little because in the past they have been bitten on the bum when they have said we can see the end.
    Fred is not here to make us bags of money, Fred is in it for Fred. There is nothing wrong with that and that is why I say I left wanting to buy more. He can see the finished line. He was seriously miffed about the DHL delivery delay. When you and your family (at $18 per share) have well north of $100 million on the line then you will do everything that your many years of business experience can do to get the damn thing closed out. He has talked in the past about selling but he can't do that until he can demonstrate to the players with the big bucks who want the latest technology. He needs to demonstrate to credit raise. He just needs to demonstrate and publish the specs full stop. That is the golden ticket.
    That's why I wanted to buy more, not because I like him but because he knows he is close to the safe's combination and I want to be in line behind him with my wheelbarrow.
 
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