VFX 0.00% 0.5¢ visionflex group limited

In the micro cap market you are backing people as much as you...

  1. 316 Posts.
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    In the micro cap market you are backing people as much as you are the business, its vision and progress. As I have said consistently, the SAAS metrics for 1ST are solid. I had a long term view of the business and was confident that the revenue would come. The company some 2 years ago had landed some large deals, which then got impacted by little things beyond the company's control like the bushfires and covid, but yet they grew unlike so many others. The CEO has always been transparent and available to investors, had a pretty solid vision for the business and was making great progress securing large contracts and strategic partners with groups like Openpay and Afterpay. These businesses need patience, but they are also challenged on the ASX where investors rarely have long term investment horizons and boards get worried about their own reputations over the interests of the business. It is too easy to throw rocks from the sidelines. With the founder gone, I'm getting out too. $30k per month to an interim CEO seems crazy to me. Surely they could have managed all of this better and saved the company this avoidable ugly journey? That responsibility rests with the board.
 
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