It doesn’t feel like they have control over their costs and it may have to do with a very aggressive Chairman that displaced a very conservative CEO and now the business has somewhat lost its balance.
I'm glad you have teased this out, I have been pondering this for some time, does this director (non executive) who is heavily vested have too much executive influence on the executives and this is the reason why the previous MD/ceo left, due to friction caused by his perceived aggressiveness.
IMO, some management mis-steps;
Buying of real estate when cashflow should have been reserved for sales and R&D expansion. Hyped announcements and obvious and silly percentage reporting Announcing the hernia device was ready to be rolled out shortly, then soon after announcing it will be delayed when it was never ready Directors given permission to sell when they knew there were very bad sales monthly figures.
Lots of very bad form in my opinion.
PNV Price at posting:
$1.06 Sentiment: None Disclosure: Not Held
(20min delay)