@Archermo my point is for old Bruce (not you, as he’s paid a salary by shareholders not you or me) to answer questions and provide visibility on a quarterly basis.
As an example with your point around ‘enough cash for next 18 months to 2 years’, how did you come up with that?
More specifically:
- Has / will old Bruce provide a quarterly burn rate comprising of all fixed and variable costs?
- Has the burn rate changed since 31/12/19, eg reduced travel or conference sponsorship due to Covid (good), still having to pay for the new LA office lease (not so good), are US staff still bringing home the bacon despite the increasing headcount (top line growth justifies increase salary costs)
- What if some clients / firms default and QFE has to carry the can, would it not eat into the cash reserve in order to pay back GCI / 255? Does QFE have a finger on the pulse with its clients as to who is still a going concern / could be in trouble (eg 8 sales / accounts people, 5 min call / short email to all 1,200 clients - would only take less than a week to do and get some responses back by now). As you know generally the cost of keeping an existing customer is lower than that of acquiring a new customer.
Don’t need the operational day to day details, just a clear concise statement around how much cash currently in the bank, what is our burn rate and how old Bruce imanages cost base and keeps customers happy so they continue transacting on the QFE platform.
Ditto with status of GCI / 255 facilities - have terms changed, rollover situation with GCI before August, potential new alternative lender (would be great if QFE is growing and lending more one would expect a better deal in terms of rates / terms right?) etc.
Just one simple example of 101 stuff around how to manage a business and communicate that effectively that’s all.
Am I still sounding negative? As a lowly bottom level shareholder am I allowed to ask for any of the above?
