While I understand the frustration and disappointment many shareholders feel regarding Ovanti's recent performance, it's important to acknowledge the significant efforts that have been made to turn the company around. Terrence Clee and the current board have faced enormous challenges since the company went into voluntary administration (VA), and their dedication has been crucial in preventing the company from collapsing entirely.
It’s worth remembering that Terrence Clee personally invested $1.2 million of his own funds to help Ovanti stay afloat. Raising capital in such a difficult environment, coupled with navigating the complexities of administration, is no small feat. It’s easy to critique from the outside, but the board has worked tirelessly to save a company that was on the brink of failure. These efforts shouldn’t be overlooked.
While the share price is a concern for all investors, there are many moving parts behind the scenes that the board is managing to create a path forward. We can debate their strategies and the outcomes, but it's clear that they have put in significant effort and personal investment to give the company a fighting chance.
I do hope that, in time, we can see the results of these efforts and that the company can recover for the benefit of all shareholders.
OVT Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
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