An interesting stock, page-3

Howdy Notthatwarren, I've held VRS since they were OTC with a large income from infrastucture construction and when a few years ago they were targeting $150 mil income, projections to $200 mil, EBITDA in the high teens millions. This and the declaration of a dividend and the shares had risen to 37c and all looked rosey. So questioning management is quite a valid thing to do on several counts: do they have the expertise in the new fields, do they have the requisite experience to guide a path of integration of services across acquisitions, do they have the knowledge and expertise to maximise synergies across businesses, states, local staff, do they have the consideration and empathy to adequately communicate to shareholders. I'm no expert in the technical side of what the company does. I do appreciate the fundamental reasons for the shift in focus, such as low margins in the building of infra-structure such as Nauru Govt Contracts that were ending anyway, and mining infracstructure. So there is an expectation of much higher margins in the surveying sector which is now the major earner, and this should equate to a much higher EBITDA than ever achieved. Combined with the latest announcements, revenue could be reasonably expected to exceed $100 mil p.a. and EBIDTA could be higher than ever before. I will say like all companies management remuneration is excessive. Why anyone who earns even $100,000 + then needs a bonus to work hard goes beyond fairness and equality. Such is the way of rampant capitalism with egoism (which means self-serving) as a central tenet. On the communication side, there has been no indication from management on the sad plight of any shareholders who bought shares in the 30c range. Clearly empathy with shareholders is lacking. How will they build the company back up to those 30c/share days and beyond, considering the earlier projections which they indicated. When will they communicate a path back to shareholder value for all shareholders.
That said I still hold hope. It seems, even if in large part through acquisitions, annualised revenue could be on track to exceed $100 mil (quarterly due by month end, eagerly anticipated). A market cap of $50 odd million represents only 6 months revenue so the share price seems cheap. EBITDA on higher margin surveying services could reasonably be expected to be very favourable given the company announcements and presentations. The qualifiers being management know how to handle the integration of services incumbent in the various acquisitions, can maximise synergies of operations, and have the personnel management skills to build a focused staff, that believe in the company (and I'm not really sure what it stands for), gain the satisfaction of fair pay for fair work, knowing they are contributing to the overall success of VRS, owned by shareholders, contributing to the growth of Australia. Massively important qualifiers. Would welcome your views in the future Notthatwarren,.