There are ample evidence for readers to decide on the smoothness of Mr Williams’ announcements. IMHO the announcements were filled with ambiguous words that encouraged fools like the Stealers of this World to believe CMQ was going from strength to strength. Let us look at 2 of Mr Williams presentations:
Investor presentation dated 18 Oct 05, page 12 on Sales:
…we continue to develop commercial relationships in Brazil, USA and the EU.’ I think he meant: “we continue to look for anyone interested in our products”.
The 2005 AGM presentation
Page 3 on Commercialiasation of Chemeq,:
Our focus is on
- Delivering sustainable sales growth.
- Cost Efficiencies.
- Reliable production.
- Expanding market share.
Miserable failure in all points presented and CMQ is in a far worst financial position ever and the cash in the kitty possibly may last less than 6 months.
On the shipment of goods to the South African Wonderland:
Mr Williams first announced it as QUOTE page 19: “Nothing pleases me more than to see 20 litre container of product accumulating in the warehouse shelves, other than to see those drums being loaded into a shipping container and being shipped to our market. We have seen our first full shipping container of products DELIVERED to South Africa”.
This was later changed to: “POSITIONED in South Africa” and still no corresponding sales receipts reflected to date.
On page 20, “I have also met with our Malaysian distributor… Our sales and marketing team have lifted the intensity of their work…. They have been very hands on… This is starting to produce positive results.” Clap, clap, clap – 100% for theatrics.
Where are those positive results and sales receipt?
And to cap off these performances, Mr Williams said this when announcing the new strategic plan:
"CMQ had spent considerable effort over THE LAST SIX MONTHS towards making this strategic change a reality. This has led to the company identifying and advancing negotiations with strong potential partners”.
The strategic change had six months in the working, oh yeah? I think “identifying and advancing negotiations with strong potential partners” is a tad lower than “we continue to develop commercial relationships in Brazil, USA and the EU”
Great performance and showmanship. If you buy on the comfort of Mr Williams’ announcements you deserve the results.
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