new ceo needed
this company is run by the ceo , a major shareholder who runs it like its a private business. It is clear the current management is incompetent. The market cap is only 11m but they seem to be spending about 7m in r&d per year. revenue is not growing fast enough for the amount spent ,but they will spend this amount for the next 3 years. What they need is a new ceo instead of a major shareholder running this company into the ground. In the last 5 years r&d spend has amounted to possibly 25million, as long as the ceo picks up his $350,000 p.a he couldnt care less,for the next 5 years he will proberably make about $2m with pay rises . Shareholders in the last 5 years have lost their pants and now have to hang on for another 5 years to see if this dog ever pays a dividend or has its bankers call in the loan.
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