A very disappointing outcome, with the downside far exceeding my calculated risk. Live and learn. This is terrible news before Christmas, and it raises for me serious questions about the company's future. At this point, I believe the company needs to make swift and difficult cost cutting decisions. We’ve become a very low-cap company that can no longer sustain our current overheads. Considerations should include the size and cost of the Board, our highly paid CEO with incentives that don’t seem to align with shareholders, and the general business overheads (including the talented people we’ve recently hired).
Unfortunately, I suspect we’ll take the usual route: burning through our cash reserves to over-analyse the results and chase some new dreams. I know this will be popular, but I believe the Board should at least consider an alternative path: sell the IP, absorb the exit costs, sell the company shell, and returning the remaining cash to shareholders. I’d at least love to understand what this scenario looks like compared to the current share price and the slim potential for a material rebound.
PER Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
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