Knowing what your cost of sale of per unit and your fixed costs are ie employees and overhead etc are the role of the grad student and his 25yo overseer. This is basic friggin' retail, not some elaborate multi-stakeholder engineering project with a thousand unknowns.
And chatting with suppliers about their manufacturing and sourcing capabilities is the role of the guy who's been around for just a couple of years.
CEO's accountability is to shareholders not to make excuses for incorrect vision, poor execution and dodgey practice.
Thinking back to all those webinars I tuned into - far out all he did was gobble their knobs and feed them donuts and soda-pop while 'rome burned' what a lesson.@goldbear77 and some other saw through the whole charade pretty quickly.
Reflecting on the multi-week trading halt/suspension while they concocted a 30 page fairytale responding to the ASX that should have been enough but I was seduced by the run up in SP that preceded it.
Lets face it if you get your balls busted by the ASX you really must be at some deep level of incompetence. How have we not called for his resignation.
My godfather who pays $51 million US dollars for a damn lightbulb company that is losing money despite supposed revenue of $38M and needs an $18 million placement (8 cents that one was) to fund it along with pissing away a huge proportion of the company.
(I need a lie down just thinking about it)
BUD Price at posting:
1.1¢ Sentiment: None Disclosure: Held
