I get that you are trying to put things in perspective wolffboon
but I dont care about how highly regarded they are within an industry, I wonder are they the right people to run a public company. Still waiting on some words of wisdom from new CEO would have thought he would have said something by now.
Where did management go wrong you ask.
Going into the CBA deal with not enough money thats the biggest F#$K UP plan and simple. Managements oversight not to raise money when shareprice was anywhere from 3 cents to 10 cents they were the only ones who knew to be working with CBA in the background for 20 months, if this was the case look up shareprice and what price they could have raised along the journey, they were money men could of invested the money and got interest. But to busy stroking their egos to consider a CR think they thought everything is a done deal.
Good management would have made sure we had enough money if the pilot flopped. Not raised at 1 cent. And issued options that were more expensive than the options issued 3 months latter.
I am not the sharpest shovel in the shed. And even I knew this along time ago.
We would not be trading at .002 if we had a few million in the bank even with CBA deal gone.
Take nearmap for example they raised early money still sitting in account. People know their is no need for a CR and stock responds my going up a few bags. Still never made a profit.
Managements biggest mistake was not planning for the unexpected! no use fighting a big fish that drags you to the south pole if you dont have enough fuel to get home. Even if intiger caught the fish no petrol stations down the south pole. Long paddle home especially with only 2 pips to row with.
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