Points of Contention,,, or,,, Why Joe and Alice aren’t investing in this Company
Present investors are anticipating Company advancements, thus share price gains; yet they are aware of past performance and management’s promises of future success. Weighing promises and comparing same to actual performance leaves investors with just one question, “When will the turn-around take place?” Or, perhaps the one question is, “Will the turn-around take place?” Or, what most are waiting for, “When will one of the Company’s acquisitions produce a profit?”
The above is and will be what prospective investors, (like Joe and Alice, or, enter names of your choice) also face. Additionally, prospective investors will be confronted with, (after minimal research) the following Company history: 1) Negative cash flow 2) A dilution of shares 3) The purchase of non-producing Companies 4) Constant cash infusions for support of non-producing Companies 5) A recent failed business venture costing the Company 10s of millions of dollars 6) Company management’s demand for increased remuneration for their efforts in advancing the Company towards its goal of profitability – Management was finally successful in this endeavor 7) Company’s reluctance to share more information with investors
Granted, all of the above has been discussed here, (in depth) a number of times. Yet, the above identifies the reason(s) for lack of share price strength and share price gains. The above also offers us just cause for questioning not just management’s choice of paths to success, but also their silence.
IMO, present investors must consider the Company’s CEO in a different light, in a different way, if we are to see changes. Investors must set aside the following:
“Dr Michael Goldsworthy BSc (Hons) MSc PhD FAIP & inventor/developer of the SILEX Laser Enrichment process.”
Yes Mr. Goldsworthy can claim, (and proudly too I may add) all the accomplishments listed. However, past claims, just mentioned, have nothing to do with our present position. Mr. Goldsworthy surrendered the SILEX Laser Enrichment process to present, past and future Company investors when he sought financing from the public for development of the SILEX Laser Enrichment process. After successfully launching Silex to complete and produce the SILEX Enrichment process Mr. Goldsworthy ceased to be the above mentioned person and in doing so, became:
"Managing Director/CEO (Executive Director)"
If we are to see changes in the Company’s performance Mr. Goldsworthy must conduct himself, not like a scientist, but like a CEO, a CEO that demands that Company employees concentrate on and complete projects and/or fulfill needs of all subsidiaries.
Since the 2002 acquisition of Translucent and Photonica, (name changed to Fiberbyte, then changed to ChronoLogic) Mr. Goldsworthy has given nothing but implied, unfulfilled promises of products* for market for the last 10 (ten) years. For 10 years, investors have heard, “We are making progress.” – With a Full Year Report, an Half Year Report and an Annual General Meeting Report; that means investors have heard, ’33 times’ for both Translucent and Chronologic, “We are making progress.” IMO, 66 times, “We are making progress,” is a lot of progress, that to date, has taken investors no where.
*Excluding the Silex/GE Agreement for laser enrichment,
SLX Price at posting:
$3.17 Sentiment: Hold Disclosure: Held
