Yes, it goes to show that even the most experienced and successful Board people can stuff-up badly sometimes. The Board, in its annual revision of the Company risk profile(and it is the responsibility of the Board to monitor and act on business risk) should have seen that the Company was growing and doubling up the CFO as Company Secretary needed to be addressed by ensuring they had someone with the appropriate skills - they failed.
I don't dispute that the potential is there - this could be a great successful company and has the right ingredients to succeed, however it's a very fickle market with strong competitors. I'll say it again, unless they announce new(significant) revenue by June it will be in trouble.
I bought into this company for the similar reasons you have, great line-up of people with good innovation/product(s). We shareholders have parted with our money investing in it and backed their remuneration proposals. It's now up to them to deliver back to us.
The next few months will tell us what direction it will go and sincerely hope it changes direction and goes upwards. Revenue is at the foundations of that turn-around and for shareholders to keep the faith.
Best of luck - it will be interesting to see the short term behaviour on suspension lift when it happens - one day!
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1 | 7820 | 0.064 |
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Price($) | Vol. | No. |
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