How low can it go?, page-14

Optimustus you've made your point. In this case it turns out you were "RIGHT". But what you're doing now is akin to the Romper Stomper gleefully putting the boot in to those already financially KO'd & lying on the ground down & out. Unnecessary & a little in poor taste in my personal opinion. Perhaps just give yourself a quiet high-five & that's that?

Natinack, Blundy,. Spheria, Pinnacle, myself & the many others who have accumulated long positions in this stock of late have all been badly burned - we don't need someone dancing & spitting on our graves...

Personally I think the company raised sufficient funds to give it a reasonable fighting chance to survive & perhaps in time one day thrive again. NAB obviously have CCX on a very tight financial leash - but perhaps they can at last focus on their core brand in just USA & AUS markets & get back to doing that well. They once did that very well, but got carried away with expansionist empire building & hubris, and then only compounded their strategic mistakes when they misread COVID's temporary turbo-charging of online retail as a permanent structural shift. With the EMEA & Avenue gone, & the Covid legacy logistics arrangements mostly now unpicked - they may succeed in resetting the cost-base to a more appropriate level & be able to trade back to sustainable profits. It won't ever be the revenue highs of before, but nor does it need to be.

Personally I would like to see Phil be held accountable for the strategic mistakes & value destruction he has presided over - but perhaps this needs to wait a few months to get through the current confidence vacuum. A fresh CEO with fresh ideas (and much more appropriate compensation arrangements for a company this size!!) would be a great start to re-instilling a little investor optimism to take forwards.

Thankfully I mainly accumulated my position at the lower prices - but still incredibly disappointed with what has transpired, the leadership and investor communication bad-news vacuum, the Boards' completely hands-off approach, and the obvious leakage about the pending capital raising in the 4-6 weeks prior to pulling the trigger.

Anyways, win some lose some & some painful lessons to be learned from this debacle.