Congratulations and many thanks to our larger shareholders that have now rid us of a non-performing and expensive CEO by politely easing out the Chairman, who was appropriate for our court case but not for a start-up company, and a professional Director/Advisor with little energy for ADO.
David will stay for a controlled handover of whatever deals are close where he has met the players and hopefully has no daily engagement with the management of staff. We might find that 4 weeks is shortened once the acting-CEO gets involved in the sales function.
I would hope that there will be some of David's staff appointments shown the door very quickly.
2 jobs done; 1 job to go!
On another issue: If you are the decison-maker committing to use a product from a small company in Australia that will determine the success of your global product release, you are risking your career with that decision. You might want to take a longish time to consider that decision and practice immense caution. As Peter Fred mentioned in an earlier post, the complexity for our anode is that there is also a third party that needs to also be convinced that their reputation will not be trashed by this Aussie minnow. At least in the case of our Indian friends it is only them that needs to commit for the next 20 years of their IP protected products.
Reducing what appears to be non-performing staff costs now, with a lean approach focused on sales is the right approach.
Let's be patient, what's another 6 months.....sigh, probably imminent!
Go ADO!
ADO Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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