Here's what our MD had to say at the previous quarterly:
"We believe we are at turning point. An overhead budget smaller than the prior year, a substantial improvement in gross margins built off the back of improved technology and reduced 3rd party costs, and a growing order book underpin a very different FY24.
Notwithstanding that Q1 brings an additional pay-run and one-off expenses, we are expecting FY24 to bring improved cash and earnings performance from prior years. Budget and forecast numbers suggest that we will not need to raise equity for working capital purposes with the current operating model.”
In a mere three months, Spectur managed to lose another $720,000k...That's almost 20% of the present market cap. It's disgraceful.
They've also effectively raised equity through a placement to an incoming director.
No more spin, half-truths, and failures. We need, immediately, someone with actual experience running a profitable business. Our MD has repeatedly proved he does not know how. Write to the Chairman and insist on action, and - for god's sake - vote down the remuneration report.
SP3 Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
