SP slipping as some look for better options with more certainty...

SP slipping as some look for better options with more certainty causing a general slide, as other watch the SP slip and also move on. Can’t blame people looking for something else that they can get a better idea of where things are headed and how that may be achieved.

With complete silence on the largest asset, radio silence on London office and almost no information flowing outside of the quarterly Ann’s there is not a lot to go on to help anyone outside the circle of silence to guide decisions.

VOR are certainly in the right space to grow with access to government and private industry with the right certifications. Problem is that all that does not guarantee any business at all. VOR have to go get it. This is the main issue is we can not “see” any activity. Even if they do secure more contracts we don’t find out about it. Without a better idea of what is going on VOR will struggle to attract new holders and struggle to keep existing holders.

With most companies holders at the least have a fair to good idea of fundamentals. With VOR it’s all a little vague. If management only want to update via the quarterly then they have one very significant issue and that is assumptions and the what If’s. What if one or more of the current contracts are not renewed? What if no new contracts are signed this quarter. What if they win some new contracts but lose some existing. We are left to assume it’s all going as planned. We are left to assume what ever we want good, bad or neutral and from my experience the bad always overpowers the other two given time and lack of information.

A quarterly showing the status quo or numbers in line with forecast will not punch a hole in the sky. BUT a quarterly surprise showing negative growth or failure to re secure existing contracts will see holders flee imo.

More is required for certainty to trump what if’s. Where there is no certainty there is no investment.