EMS employees off loading their own shares (especially disgruntled ones that were made redundant)
Internal cultural issues and/or the inevitable learning curve creating toxicity and/or distracting from getting the job done
or simply market sentiment on the fit and/or overheads carried now from potentially not doing enough of a cull
I think with a merger that size it is inevitable to have a pissing competition on all levels including senior management, but we do now have a new CEO, CFO, COO and Head of Product. So that should go some way to a reinvigorated approach and hopefully not too much "but this is how we've always done it", hopefully that new passion should help with the cultural merger side of things to get the staff excited as I suspect the story may have worn on a little long for some of the employees up until this year.
I personally think its the learning curve they've needed, to much of an r&d company and not enough balance in the sales/product push side previously, so I really hope all these placements and advisors are there to rectify that, but it's a bigger ship now so we wont really start seeing that progress/success until late this calendar year I'd say.
The ex-employee offload could definitely be a factor and excessive overheads are always going to be a problem if they get complacent, again I'm hoping they haven't finished yet with the staff redundancies/reallocation of resources yet and you're right I'd like an update on those cost saving measures too, but that won't be until after eofy if I'm to take a guess.
If they come out with an optimistically presented CR as I suspect they might at these current prices, i'll be doubling down and we should hopefully see an up lift later this year (if the market doesn't reset around then too), I really think this could be a slow burn up to a 1bil company from next year over the next 5.
Hopefully they start positioning themselves as the "XRO" of the environmental space and esg/etf's start picking us up as milestones are reached.
EVS Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
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