GSW 0.00% 29.0¢ getswift limited

The tides are turning, page-129

  1. 207 Posts.
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    ...just an opinion... and things tend to change....

    ....the catalyst for me was the 20M shares they have just issued themselves after reporting $11M cash loss in the last quarter...

    I gave them benefit of the doubt when I made my initial investment... but then they decided to give themselves 400% salary increases...so I thought it might be justified based on imminent news or something ..but 12 months later... no real news other than:
    • that the business model is still flawed.... after spending over $70M;
    • then they have stopped reporting on KPI's they have committed to in their prospectus;
    • ...then their whole board walked out... the perpetual revolving door of staff....just have a look at how many ex-Getswift is currently on LinkedIn...even the CFO resigned last year apparently...change in COO as well....but hey...who needs to update the market on anything if 'we' are the majority shareholders;
    • then they started 'acquiring revenue' via the acquisition of other bankrupt companies....
    • then they start telling everyone about their 800% revenue 'growth' and how successful they are....strange that you never see that preponderance of those revenue increases was due to FX & via acquisition when they paying people to talk about their apparent success;
    • and now they are 3 quarters away from being bankrupt themselves....LDA is not deemed viable based on the volumes & other covenants....everyone knows that....and what do they do....they gave themselves 20M shares... while still paying themselves $1M/year salaries...
    • etc...etc...etc....

    ... bottom line: I don't invest in companies where management are morally corrupt.... and have proven to everyone that they don't have any business acumen....

    ....but hey.. just another few days like today and my exit will be completed...and then I will anxiously await for all of those empty 2017 promises to materialise.... I will then sue the company now that I have traded my shares while I was deemed 'uninformed' or 'misinformed' by the executive team... so a win win... these guys will only learn the hard way... and I hope for their sake that they are insured....because, they are going to need it in the very near future....

    ...anyway.....there are plenty of other ethical management teams to invest in....with the same risk/return profile... so another win/win for me....

    ...my two cents...
    Last edited by PrincessKate: 25/08/20
 
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