Ann: SFG Retirement of Director, page-7

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30/12/21

16:29

Post #: 58570553
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Originally posted by hanabi: ↑

To seek and appoint suitable candidates takes time, then there is a transition period to allow the new team to settle in.

And there lies the considerable risk:

Will the new directors be more capable than those they are replacing? That is not a certainty of course; the original directors would have been appointed with the same requirements/responsibilities/goals, and unfortunately they failed miserably.
Covid, unpredictable weather, and significant increases in labour and materials costs simply add to SFG's financial woes and will make survival even more difficult.
Given the necessary transition period, will they be able to get up to speed before the company runs out of funding and goes into admin?
Yes, I believe admin is a big possibility at this point. The next cap raise (almost a certainty) will be at what price? 1.5 to 2 cents? You can forget about a 2.5 to 3 cent raise given the dire straits the company is in. I don't even think any instos will be willing to participate given SFG's current circumstances, and I doubt shareholders will be foolish enough to throw yet more funds into the black hole/money pit that is SFG. The share price graph says it all:

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Bottom line, they need to come out with a bankable business plan, with robust costing, they should have had it from day 0.
They did have operational costing, but it wasnt robust, the scale it required lost sophisticated investors, but sold it as visionary to 'dreamers', they need to find a middle ground.
SFG Price at posting: 3.3¢ Sentiment: Sell Disclosure: Not Held
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2 Great analysis

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