A nice frank account of the current situation I think.
Seems from the presentation that they were putting it all out there and possibly seeking guidence from those present.
2009 the year in brief Key areas 2009
Actual Revenue $3.2M
Lower than budgeted revenue streams
(particularly from existing customers)
High overheads 8.7M
High cash burns 7.9M
The company’s future
Unless we can generate significant increases in revenue and get company cash flow break even, we are in a perilous situation
We cannot be beholden to white labels; we need a
differentiated premium wholesale channel with
multiplication effect. PBX and related applications
must generate $$ in termination revenue
We have addressed a couple of M&A alternatives
but merging with entities creating additional losses
does not help
And of course:
We are now looking to appoint a CEO with a sales / marketing focus to drive wholesale revenue.
Maybe I should send in my resume?
A nice frank account of the current situation I think.Seems from...
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