A fair percentage of the acqusitions were done with script which is way out of the money now. Not quite a Slater and Gordon but same motivational issues for the partners that took script. They are playing the long game now and have to work thier bums off just to break even. Griffith Hack just missing the earn out by 2% might have saved XIP $20M but not a great staff motivator. Word is they were billing furiously to make sure they met it. The outlook statement AGM update didn't exactly help..... "Loss of momentum post earn out in Q1 in Griffith Hack • Impairment review as part of half-year process ". Yikes !! Sell off was delayed but eventually came.
XIP Price at posting:
$1.15 Sentiment: None Disclosure: Not Held
