Hello Triple Top,
You truly amaze me, on a continual basis. Your post, is
boldened below so as to avoid any confusion on what I have to say. Omniblend, as they claim had $29 million annualised turnover. This amount, was stated during the IPO raise from KTD. As a business, to have a company turning over many millions of dollars for such a long period of time. To then at a point of purchase show ZERO Assets and $6 Million Dollars Of Debt.
As mentioned, with ZERO ASSETTS. That is, the singular outcome and that should be a primary focus point.
Any company, after a decade of as they claim. Stellar annualised turn over, should have a vast asset list of property and equipment owned or financed. They had, nothing but debts. So TripleTop, none of what you are saying. in your post. Makes any sense at all, they have shown or proven in any positive ways. They know what they are doing, except Smoke & Mirrors.
Organic growth TripleTop, it does not come from buying other companies. They have shown at rapid speed, an acquisition driven approach. if all of us LTH even read that would be the approach they would have. Then generally, most investors would walk away. They have actively, looked to take investors and finance monies and use it on whatever smoke and mirrors show is next for them.
Look at what, they have done to all the investors money. Whilst then, looking at what they have all given themselves from Salaries, Bonuses Performance Shares ETC. ETC.
Peter James, should be extremely embarrassed on his acclimations. Peter James, receiving 150K just to be on the board of is a joke and not to mention all the other offers he receives.
75k -100k for BOD members is a standard occurrence, these figures are generally linked to companies with MC's of 750 million and above.
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Rotman was the MD of Omniblend for almost 10 years and o
versaw this business grow from almost start up to $30m in revenue. MD = CEO.
Thompson has a bachelors degree in accounting and is a Chartered Accountant. If you knew anything about what is required to gain these you would understand he doesn’t need to have worked in an identical business previous to offer considerable value. Acquisition experience is excellent - not many CAs have this knowledge. Liquidation experience is actually very helpful from a cost management perspective and I think the large cost out program last year is proof of this, contributing to the swing in the FY results from a $2m EBITDA (normalised) loss into a ~$2m EBITDA profit (normalised) position for FY22.
As I posted previously,
close to $30m
of the current $80m+ revenues have been ORGANICALLY grown by Management.
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Enjoy your day.
(20min delay)