Thx awg for the comments about the AGM – clearly the Q&A section of the AGM did not make it onto the published AGM review/s – based on your comments I can understand why.... I'd love to be able to read a transcript.....
I take some relief that questions were finally being asked of the board & management at the AGM. If Bill’s departure is as a result of this well so be it. However, whilst it may appear as though he is ‘the fall guy’, imo he shouldn’t be the only one – there are certainly some others at BLG that need to take a good, hard look at their own performance (say, maybe the last 5 years in particular….???) and maybe even consider their own future.
I also find it very interesting that today’s announcement also coincided with Simply Wall St’s opinion piece on Giles Bourne, at - https://**.st/stocks/au/semiconductors/asx-blg/bluglass-shares/news/is-bluglass-limiteds-asxblg-ceo-paid-enough-relative-to-peers/
BLG needs a rocket, and also needs change. Hopefully James’ appointment is a catalyst for that change – his performance with Seeing Machines and what they are doing in their field, is impressive to say the least.
Whilst I don’t share your confidence, awg, of any real improvement in the SP for 2020, 2021 may be a different story, imo.
Regardless, BLG need to get back to basics and start hitting milestones on time, and on budget, starting with the G4. They need to start focusing on their shareholders, for once, and start with baby steps of simply trying to restore some level of confidence. If there is no announcement by the end of January, before the Quarterly announcement, regarding the G4's full operation then James may need to take some further, more forceful ‘remedial’ action.
The current financial position of the company, and its eventual need to raise capital, is of critical importance to ALL shareholders. I’ll also be keenly reviewing the Jan Quarterly to see how BLG will have performed, not only on the revenue front, but more importantly to their forecast expenses for the Dec quarter. Any deviation from the Sep Q forecast will also be negatively viewed, particularly with the reduced revenue the company has experienced over the last year.
Still in the bottom draw, sadly doing nothing but sliding backwards – when will we hit bottom…..????
GLTAH – we need it!
BLG Price at posting:
10.5¢ Sentiment: None Disclosure: Held
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