OK, let's take some of the overreaction hype out.First - yes,...

OK, let's take some of the overreaction hype out.

First - yes, the result sucks.

Second, the ASX is not interested in anything other than its own pockets (the same goes for the other regulators), so no, it isn't watching FLC closely.

Third - $4.5M for staff costs isn't that bad. If you assume only 200 employees worldwide, that equates to less than $100k (US) annual salary per employee. If anyone has actual employee numbers, this would be easier to get more accurate.

Fourth - the board etc. aren't here for a nice salary at the risk of their reputations - remember, a lot of them took a decent stake in the last CR. They do actually have a track record and (I believe) are in this company to bring it to the point where they can sell it for a nice profit (as several of them have done with other companies in the past), secure their retirement and put another ego point on their resume for bragging about at rich people parties. Now, whether they accomplish this or not is another matter.

Fifth - yes, MABR is quite old tech now. This is as technology goes, not as the glacial movement of water companies goes, however (remember all of @ywtoh's great posts on this). But the MABR market is expected to double by 2031 (https://www.linkedin.com/pulse/global-membrane-aerated-biofilm-reactor-mabr-market-c3tcc/). If we can get our crap in order, we should be able to achieve the continual increase in EBITA that the board is looking for in able to sell our company for a good price (not the rubbish we are currently at).

So yes, it's slow moving, painful, and the execs have taken a self-added credibility hit. But their not like some of the mining stocks on the ASX which are nothing better than disguised robbery. It's frustrating, but I'm willing to wait and see if they can bring this company around (mainly because I'm so far red I don't really have a choice, but let's not mention that...)

GLTA