I don't want to say "I told you so"......but.....I told you so.....
These guys don't care about the company at all. They're all out for themselves only. That's what a board does. They stick around for about 4-5 years then move on to another board. It's not about what they can do for the company, rather, what the company can do for them!!
Richard gets a nice $105K bonus....for what exactly??
Reggie gets a nice bonus....upping his salary to almost $1M....again, for what exactly??
Now Katrina Rathie wants a nice little bonus of $100K....again, for what exactly??
And now they're asking for an extra $150K for the board....again, for what exactly? To line their pockets and keep living the high life!
BUBS is the joke that keeps on giving...
CFO left the company simply because he knows exactly what the vultures are doing and he wanted no part in it! Why else would he leave a $350K job for!
I was derided and ridiculed when I said all this months ago. That's why I've been silent for a while. Now, enough is enough.
BUBS is terminal. BUBS is on life support. BUBS is finished.
I told you guys that a CR was coming, that they will pump the price up and then announce it. Reggie buying shares, wow, a whole weeks pay for him...and everyone fell for it. Again I was ridiculed for saying that.
This is what's going to happen.
They'll still try and pump the price up with every tactic they have in the arsenal. They will announce a CR. The price will fall drastically, just like it has previously. I predict 9 cents. Let's see if I'm right.
My sources say that they have temporarily stopped afternoon shift. How long for, I don't know. Might be for the rest of this year. This has been confirmed.
My sources also say that they have 100's, if not 1000's of pallets stuck at Mainfreight storage. Exactly how many, again I'm not sure. My sources said, and I very loosely quote, "there's f*&%ing heaps, probably over a thousand"...
My sources also say that they have very badly overestimated the demand in the US. The forecasting was waaaaay off, thus the dire situation at Mainfreight.
Things are definitely NOT looking good at BUBS.
My predictions for this company?
Apart from the CR, and the 9 cents a share prediction. They will go heavily in debt, try to "expand" into other useless markets with absolutely minimum growth. Lose even more cash on hand, and blame their "expansion" for the debt.
But not to worry, as long as Reggie and Richard get their pockets full of cash, who cares, right?
They will run out of cash sooner than expected, again, they will say "to make money, you have to spend money". Not to worry, let's do another CR!
The way things are being run right now, BUBS won't be around in a year or two. It will be acquired by another company and the BUBS name will cease to exist. That's my prediction. Let's see if I'm right.
Every one of us got a voting form. Say "NO" to everything. F@ck 'em all.
Send a strong and clear message to Reggie and Richard, "enough is enough, f@ck you"
Just my 2 cents, as always, DYOR.
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