I would say “unbelievable”, but I don’t think I can use that word in the context of Cooper-Jones any more.The word Hounourable is also looking a little out of place around CLI now. Surely there is more than a little embarrassment around the Board over this? I actually can’t see them having endorsed a release if it was immaterial. Or maybe they did.
I have to be honest and say that I thought acquisition was a good strategy for this very reason. Expensive pre-sales and a slow purchasing cycle. CLI is now carrying costs with no revenue. We can debate the Tassie thing, but it would at least have been a revenue-backed staff member, a client base, and a whole lot less risk. This greenfield approach is looking really shaky with this type of announcement/retraction.
