I've long supported the concept of this stock and been a VERY patient shareholder but I am concerned that management are driving this stock into the wall. Just look at the share price - all time lows is it?
Can someone help me with the latest announcement. From my reading:
ICS have not stopped Medicare doing the very thing they say has stopped them making money in the Australian market. So the outlook here can't be good. US is being hit with FX problems and problems (which happened just after paying top $) but MAY now be on track to do something. Problem here is the US is in the middle of healthcar ereform Good long term, short term...? Outlook is concerning. UK appears to be OK but not nearly enough to carry the business. Again paid top $ for little impact.
Now management appear to be saying the strategy Mr Murray trumpeted as their saviour is not going to work and they want to branch out into other areas of revenue. Problem is they are running out of cash - again.
Mind you Mr Murray has, again, in the last few months said they're close to break even and now their at least $100k short per month - really? How much credability can this guy have now?
The AGM will be interesting, particularly from the point of view of the board and whether or not they will act like a board and follow their responsabilities to shareholders or continue with the folly that appears to be unfolding at a slow pace.
Perhaps we need a change of leadership? Perhaps we need a change of remuneration policy? I mean what sort of company pays it's CEO $400K+ p.a. to achieve nothing, lose money and not implement an effective strategy? What can be done to rescue this business before it hits the wall?
As mentioned I am genuinely supportive of the concept behind this company but am SERIOUSLY concerned with how it is travelling. Can someone please point out some positives so I don't fall into despair. What is going to change to improve things?
ICS Price at posting:
4.8¢ Sentiment: Sell Disclosure: Held
