A post a couple of days ago suggested that xTV had gone from promise to a penny dreadful in record time.
That is what the SP indicates…..
There are, considerable issues with xTV, i will certainly admit, having been a supporter for a long time…well not that long if you look at the big picture.
Many, sure are sitting on losses. Myself included, but lets have a look at the fundamentals...
…Joe decided to set up in Redwood Ca…….wanted to be near the action…maybe this was because of the Intel support (which is still there….dont forget that)
Aus backdoor listings are treated with contempt in the USA, there is plenty of media articles to support this.
It was a "brave" move to go this way, be a small fish in a big pond, rather that a mediocre fish in in small pond (i.e. aus)
maybe this was a mistake, but personally i don't think so……you do have to be where the action is.
Joe has made many mistakes, and i would like to itemise these, although none are terminal:
Has overplayed interactions, agreements, and hype regarding other players looking to use xTV as a platform.
Has passed this info onto shareholders, as some sort of done deal
Has used a shotgun approach to marketing, looking for multiple opportunities.
Joe is answerable to shareholders: personally i left the private sector three years ago to take on a senior management position in a large corporate……and EVERYTHING you promise, plan, or even have aspirations to is scrutinised and when they don't come off, there is a very tedious explanation process to go through.
This is no different to Joe's position with shareholders, except the shareholders cannot "demand" answers….we have all seen how some companies deal with the tough questions…blankety blank...
Now compare how Chris Noone at Cl8 has handled a not dissimilar situation……made it quite clear that they would pursue a number of business streams, and would drop those that didn't work, or were too hard…..this is a structured approach.
Joe is lacking in this mindset.
Now this is not to say that xTV have a great product, but the way forward has to be done with a balanced sniper rifle, not a sawn of shotgun……it has to be backed up with good, timely and accurate PR work, coupled with sensible, reasonable announcements.
I recently changed my sentiment to hold, rather than buy, but at current rates, it does appear to be the exodus of the impatient.
As i have posted before, i would like to see the next quarterlies, …cash flow and cash burn….before making any decision to bail out….i am very tempted to start accumulating again however….
….playing in this space in silicon valley, one can be swallowed whole without even a burp…….
BTW the AGM (with i could not make as i was in Shanghai…..by all reports, was lacklustre……)
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