Well that was a very interesting read. For me it was both refreshing, but in some ways disturbing.
In fact, it reminded me of the classic Clint Eastwood movie “The Good, The Bad and the Ugly”.
The “Ugly" is the situation that we now find ourselves in and the “Bad”, the arrogance and self indulgence of the previous management regime, to have taken to the situation that needed such drastic action.
The “Good” becomes obvious when reading the review.
At last we have been given a “warts and all” assessment of where we are and what we are going to do to recover.
For me the main takeaways are:
1. We are now going to seriously focus on commercialising the technologies that we have already developed.
The “ blue sky” R& D, will be curtailed in favour of progressing what we already have. This will save considerable expenditure and enable our R&D resource to focus on where it is needed most.
2. Our established products in ABT, Anteo X and the Ultranode variants, still offer a world class, simple and cost effective solution for energy storage.
Also, in the LS market our AnteoBind product range is finally showing some traction, particularly in India, which is a major player internationally.
3. Marketing focus will be on developing business relations, in both ABT and LS with partners that want to do business with us, as much as we want to do business with them.
The biggest is no longer necessarily, the best opportunity.
In this regard, I also note that whilst MB is still mentioned, it is no longer the focus of our success.
4. Strict financial management will be a key focus.
It seems that we will only spend our limited financial resources when and where they are need the most.
5. A minor point of concern for me however, is the is the apparent importance for continuing to spend money presenting our products with booths at Trade shows.
We should have our key personal attend them as a priority to network, however I would have thought/hoped that with all the shows that we have attended with booth representation, we would/should have established all the key contacts that we need. I believe that the time spent attending these shows, could be more valuable networking and following up these contacts - as opposed to “fishing’ for more, whilst tied to a booth, were most of the time is spent talking to “tyre kickers”.
Anyway, existing shareholders should be relieved and pleased, that we have at last had refreshingly honest communication regarding where we are and what we are going to do.
We are not out of the woods and there is still significant risk, but at least it has been recognised and well considered plans put in place.
(20min delay)