DOn't seem to be able to quote @stephencca post for some reason but this is my response.
- "MYX has been getting much more profitable each half year" - that's an interesting way of looking at continual losses. Decreasing sales and gross profit but the net loss is smaller this half year so that's good right? Wrong. Looking at the cashflow, Receipts from customers is down by a worrying amount and the net cash flows from operating activities has only just scraped into positive territory. This is a terrible result. The only positive is the Metrics Contract services division continues to perform well. If it wasn't for that Mayne would have gone under by now.
- "The NON RETAIL CHANNEL SALES FORCE is an invention of Scott Richards and nobody recognises it as an integral part of the business model." That would be because it's not working. Sales are declining.
- "Just throwing money is not the answer." That has been Scott Richards only idea since burning $700-$800M on the Teva debacle. Keep throwing money at first Nuvaring and now Nextstellis and tell everyone things are going to get better - but I won't give any guidance.
- "This business is just getting started." Mayne has been around for decades but is now fighting for survival thanks to Scott Richards and the Board's incompetence.
- JUST DONT SELL UNTIL AFTER I HAVE BOUGHT A LOT MORE. - Well that just doesn't make any sense at all.
Are you sure that you're not Scott Richards. What you've posted sounds a lot like something Scott Richards would say.
MYX Price at posting:
21.5¢ Sentiment: Sell Disclosure: Held
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