I've been holding back on this for some time, because I didn't want to be negative and confusing while we were waiting for news ...but that has come and gone and in truth I'm a bit pissed off with management at the moment ...so now is a good time for me to spit it out.
This resumption of trading has been handled badly and the carnage was orchestrated by the low price of the 5 mil financing which is to the benefit of a select few major shareholders and management.
While I'm at it ...I ask those shareholders or family members or those close to RM to refrain from entering this debate ...for the same reason we don't like SSM entering our forum.
In addition, I still have the residual bad taste in my mouth from the "we will be shipping in December" announcement ...an announcement that was designed to support options that were again for the benefit of a select few.
Don't get me wrong, I support RM, but I'm sorry ...there is no way on earth that remuneration of $750,000 (plus plus) is justified by the share performance or market cap (...no I don't dispute his effort). Comparison with peers who are actually turning a profit does not support this.
It is not reasonable ...and as a shareholder who has been greatly negatively affected by my support for this company, I would like to see RM lead by example in cutting costs. He should go back to his previous wage with an allowance for bonus via shares (pretty good price to get them at the moment).
I have some relevant examples to compare the remuneration of companies and will post them later, but for now, I want to open this up to reasonable and rational comment. I respectfully request that SSM reps not participate.
SJB
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