I don't usually check my notifications. This morning for some reason, I did. I saw you gave my post an Upvote. That's very gracious of you. I don't mean to be adversarial or come across that way. I know you've been on this journey as long as I have. I've enjoyed your posts over the years. I respect your opinions and understand your concerns are real. I just think - and believe - that there is too much going on in the background and Ian has come too far to let this get away from him.
You must remember he is not operating a one-man band. All the original founders are still there with him, not just as passive shareholders, but actively working as part of the executive team. All are still T20 holders, including Rob Newman at T1. They are the brains trust of the entire operation. All of them are first rate talent. To say Ian has lost all credibility is harsh. If he has lost credibility, they all have.
The problems of last year were out of his control. You don't go telling the likes of Amazon, FPL or Entergy to pull their finger out and get on with it. He fronted up at the AGM and admitted the performance was unacceptable. Should he also, at the time, have told the market these major infrastructure programs had been delayed? What would that have done to sentiment and the SP? It is easy to look back in hindsight and say things could have been done better. Far harder to learn from the mistakes, look forward and make sure they are done better.
IMHO there is ample evidence to say this is exactly what is happening. If it were otherwise we wouldn't be signing new customers like Enel Columbia. Nor would Amazon and Entergy still be alive. Nor would a Tier 1 Australian mining company be rolling out the Pointerra3D platform across their 40 global sites. Just my opinion, but I think it's fairly obvious this is long-standing customer - and in fact where Pointerra had its genesis in Brazil - Rio Tinto. What about the Australian global Tier 1 Oil and Gas major? Only one fits that description.
All of which is by way of saying we are where we are. No doubt the next quarter is going to be interesting, as is the rest of the year.
But I don't think bankruptcy, or an opportunistic low-ball takeover by Banyan or any other PE player is going to figure in the outcomes.
(20min delay)
