That's rich coming from the former Pointerra poster boy.
How times have changed. Begs the question why? Presumably because you decided to stay the course and it's gone against you? We see it too often on threads when things don't work out the way shareholders hoped. Sometimes it's justified, other times it's just sour grapes, akin to saying Ian should be calling out the utility CEO's because they didn't roll out their respective infrastructure pole hardening programs in a timely fashion as they said they would do. How are decisions made by the CEO of a multi-billion MC NYSE company within the control ambit of our CEO? Magic wand stuff.
Everyone who stayed the course, including myself and ALL the co-founders are feeling the pain. The difference is, instead of complaining and making excuses and trying to sheet home blame to others, they are working hard to turn the business around. How about holding yourself accountable for your own decisions instead of demanding accountability from others?
Hogana, I'm surprised there's been no discussion around Rob Newman's re-involvement with the company. My understanding is that he couldn't be named in the original placement announcement because he was still under a non-compete from the NEA sale. The non-compete has now expired, which is why he's now openly back in the fold. The entire original founding team are back together. That can only be good for the company going forward.
Don't know whether he would ever take the reins as CEO. In reality, he doesn't need to. As co-founder and number 1 shareholder by a country mile, he will have significant influence, as he should. It would be remiss not to harness his proven and success for the benefit of all shareholders. In that respect, I expect we'll see him have more input, as Ian indicated is already happening in the US. I welcome his experience both from a strategic and BD direction. I doubt he took the placement at 8 cents from the goodness of his heart. Rather because he strongly believes in the future direction and success of the company.
Mind you, I also remember some shareholders complaining bitterly about the NEA TO, saying the price wasn't enough, that it was stolen from them! No pleasing some people.
IMO the Pointerra turnaround is already in progress. Looking forward to seeing it come to fruition.
3DP Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
