How would you know what these 3 previous Directors have or have not contributed?
Have you been in the meetings, offices or phone hook-ups to know?
You don't need to be a rocket scientist to know these 3 Directors were trying to implement change, in their view for the better.
You don't need to be a rocket scientist to figure out that Joel and Bane have effectively said to these 3 that it's our way or the highway.
It's a drastic step to resign, amplified by all 3 doing so at the same time. BG was only there for just over 6 months.
Have a look at the track record of these 3 former directors versus the track record of Joel and Bane.
I know who I would be backing.
What have Joel and Bane achieved in the 4 years of history of GSW, apart from class actions and law suits for allegedly making misleading, incorrect and inaccurate announcements to the market??
Too many people here, in my opinion, place too much emphasis on what Joel and Bane say (like comments in the most recent quarterly for example).
Have a look at what they have DONE and what they have ACHIEVED.
In your job, assuming you work, how is your performance measured? By what you say or what you have achieved?
Go back and have a look at what Joel and Bane said they would do with funds received from the IPO, as well as the May 2017 and late 2017 capital raisings.
Sounds exactly the same as the comments they made in the most recent quarterly.
- Geographical expansions
- Implementation of enterprise agreements
-product development and r&d.
They have pretty much nothing to show for it.
The AFR article nailed it perfectly when they said Joel and Bane were effectively acknowledging their own short comings by saying they need to find new directors with a focus on revenue generation.
I wonder what Joel and Bane's new roles will be?
I bet they will take no responsibility for these failings.
The lack of faith, trust and confidence is these 2 is the reason the share price is trading so far below cash backing.
The market believes these 2 do not have what it takes to monetise the business by building and delivering a quality product in a timely manner to achieve and grow market share.
It could be argued they have a quality product, but virtually no-one is buying it.
GSW Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
