Let's try to have a civilized even-keeled conversation here.
The point is, a lot people gave DRO a shot. But they missed a lot.
BT - $5-10m in sales predicted in first year, Covid happened 6 months and there were no sales yet
EU police - $1m in sales predicted per quarter, still nothing of note
Bosch, Thales, Aiports - no major sales
Saudi Deal 1 - not paid for
Saudi Deal 2 - over 1 year behind
Other items on high conviction not converting
Tester units to major governments have been that for years without progressing
Additionally I think they missed all the performance shares - the near exact definition of underachieving
etc. etc.
No one expected everything to convert. They can miss a few. Even BT. No problem at all. But they failed to convert anything significant. Not a single one. Plus they aren't getting paid for the Saudi Deal. How can you miss them all? All the meanwhile they have a high pay package and A LOT of options.
The buck has to stop somewhere. Do you not want to put the responsibility anywhere? Most people are a little upset about this. Read this board. As we said the big players all sold. Bergen, Regal, Eagle's View, Hearing, Franklin. Literally every major holder sold. And those that are holding aren't especially happy. Like SnowTown. It is a bit funny that you are.
When Oleg became CEO the stock price was in the 40s. Since then markets have down well since then and most stocks are up. The DRO investors have spoken with their money and this now down 70%. What do you think it should be worth today?
I think this stock is also a lackluster bet because its solutions are not that special. We clearly differ here. My view is the really good solutions have already been selling. It is that simple. What do you think makes the Droneshield suite different from the competitors I listed above? I would love to hear this. If it is so great why did DRO not only lose Gatwick and Heathrow but not even make the shortlist? Why did they lose the other airports? Why did they not win any of the major contracts that governments have put out? There are tons of winners.
Whether you are bullish or bearish this stock is is in dangerous territory. When it IPO'd 20c meant a 27m MC. They diluted from 135m shares to 350-400m shares and options. Now 20c means 75m. That is just to break even from IPO. If you wanted any reasonable risk adjusted return you are talking 120m. I see that as nearly impossible and only going to get worse. What is happening is this company burns cash without sales and dilutes heavily. This will enter spiral territory if the ship does not right itself soon. The thousand step journey thing is cute. but the pace of that journey is important. and DRO is moving too slow right now.
All my opinion and I welcome yours.
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