This morning's announcement likely signals bad news for shareholders. How can you raise capital a couple of months ago, be essentially debt free, then need 3-4 weeks to be able to produce accounts and raise new capital.
I think the CEO and the board need to do a much deeper explaination to shareholders, and also explain why they believe the market was informed during January given the (now apparent) deterioration in capital needs.
This CEO does not have my confidence, has an appalling track record, and this announcement is poor by why it fails to communicate in generalities, rather than specifics.
How will Suppliers and Customers take this announcement? FAILURE TO COMMUNICATE needs to addressed quickly. BOARD where are you??? get out of the bunker and let us know what is happening...
Am I upset, you bet...
announcement augaurs badly
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