Hey all,
Forgive the length of this comment.......
I've been biting my lip reading the constant stream of negativity on this thread over the last 12 months. and until now have opted to stay out for fear of being shouted down by hysterical punters (and i use that phrase advisedly), but frankly it's getting beyond a joke. I can't help feeling most of it is borne of people having incurred large SP losses and wanting someone to blame (I sympathise!), and not by a reasoned approach to both the company's performance and their own investment decisions.
I'll preface my remarks by stating I am a LT holder here and I too am verily heavily in the red on this investment on paper. It makes up the bulk of my stock market investments because i have a strong belief in the investment thesis, and as a result i follow this stock extremely closely.
@bastjoseyou've also been a LT holder and staunch supporter of Dubber as have I. Re your last post, yep agree more communication is better than less, but i believe we've had quite a bit over the last few months in terms of financial performance and governance. Given the new Moments products have only been released to the telcos very recently (last few months), it's unreasonable in my view to expect the company to update SH on the effectiveness/performance of those products until they have had a chance to get feedback from the telcos. Steve McGovern has advised there will be a product performance update at the end of this month, where they should be able to advise us of the initial reactions to the moments products.Until then i think we just need to be patient. I for one am still confident they will add significantly to the company's performance going forward.
To all the others here - as to all the rest of the negative commentary around the BOD being sacked, the company going broke etc, to me it's hysterical diatribe from people bitter about the SP drop, the vast bulk of which is market driven and NOT board related. It's worth reminding ourselves that almost every microcap tech business is down 80% from highs 2 years ago. Granted Dubber is down more than that, and has had some pretty significant governance issues around internal financial reporting and the quantum of spending, but this is not "new news" to either the market or us, and those issues have been analysed to death here and by management. The fact is the board has taken the necessary steps over the last 12 months to rectify all known issues, including improving the quality of the finance team (Andrew Demery is a quality individual), obtaining external guidance and advice regarding reporting metrics for SH and the market, undertaking extensive cost reduction strategies and so on. To say that the share price has gone from $4 to 14c purely due to management and that they should accordingly be sacked is ludicrous in the extreme. On that basis you'd sack almost every tech company board.
Also worth noting that despite all of the stated issues faced, revenue (as properly adjusted, audited and agreed) has grown consistently Year-On-Year as follows:
2018FY $3M
2019FY $7M
2020FY $11M
2021FY $23M
2022FY $25M
2023FY $30M
2024FY $45M (Forecast, strong confidence with no allowance for additional revenue from Moments rollout)
Given the huge addressable market which Dubber has a very good foothold in and has yet to fully take advantage of, the above growth, combined with cost reductions achieved and forecast all spell an extremely positive outlook to me.
It'd be great to see some more balanced analysis, commentary and opinion on this forum and a little less aggressive blaming of management for the SP. If we want to
discourage other investors from being interested in Dubber and raising demand for shares we're going the right way about it! Given the dynamic market the business is in and the changes they've made, I'm more than willing to see how it plays out over the next 6-12 months and give the board my full support to achieve a good result for SH going forward. It's far better than the alternative. Following suggestions about sackings, class actions etc will only guarantee distraction and failure of this company and ensure paper losses to date are crystallised. I don't think any of us want that.
My hope is that we'll see two things in the coming 12-24 months. Firstly, a recovery in the market appetite for small cap tech investing which should mean recovery of better earnings multiples for valuations; and secondly a good uptake of the Moments products from the telcos leading to better than forecast earnings growth, remembering that Steve McGovern has stated publicly on several occasions that the demand for these products was initiated by the Telcos, not on a whim by Dubber management, so if they work as intended, demand should be there.
Stay the course peeps, I think the next 12-24 months could be very rewarding. All in my opinion of course and not advice.
Cheers
Spike
