You and I go back a while now and as you know I was always a one eyed supporter and still am but now ONLY of our technology especially after the last CR.
I’ve done a lot of soul searching and due diligence going back over the years and realised that management have a lot to answer for.
I guess Hell have no fury like a long term supportive shareholder scorn as witnessed recently with the Bosansky/Jing attempt to shake things up.
Theres only so much you can do to support someone or an endeavour until you realise it’s not working.
That’s how I now feel about management.
Here we are as loyal shareholders always highlighting the many opportunities out there for our technology in our own backyard, averaging down our investment in each Capital Raise hoping time and time again management will seize upon the opportunities and deliver but instead they fail us. Instead of seizing the opportunities they simply pass the onus onto S.I.’s to get the sales job done & as Noddy recently noted, even pissing them off at the same time.
That isn’t SMART Buisness because people pissed off TALK!
I realise our batteries are too expensive but so are the salaries being paid to those at the top charged with the role to deliver upon sales.
The same people who are failing us.
There was nothing stopping management from bringing costs down LONG AGO to help towards developing a less expensive battery, a battery that would be cost attractive that could be sold in our own backyard.This in itself eliminating the costly exercise of overseas wasted deployments in places such as China and even more concerning Sth Africa.
Sth Africa’s economy is a basket case, just ask any ex Pat, yet we’ve spent copious amounts trying to get Vodacom to come to the table.
Money that should have been applied towards a Gen 3 (and subsequent cheaper models)long ago!
Tims sad endorsement on two occasions now highlighting that a battery as part of our RSA deployment *Trials was not stolen due to its weight and stops theft doesn’t hold up as a reason to focus our energies in a country that is financially in dire straights.
Think about it, the reason theft is so rampant is because the country is falling apart. Getting cash out of RSA is like squeezing blood out of a stone.
*Trials: If the RSA in field trials were going so well or the savings on theft were so outstanding then why no further sales to Vodacom or at the very least UPDATES. As shareholders WHO OWN RedFlow we deserve to be respected and informed at all times, NOT when it’s time to come back to us cap in hand to raise more capital further diluting our investment spinning numbers to make it appear Tim Harris and the BoD are doing an outstanding job.
Now THAT’S BS dyeman!
Annoyingly ,no different to China, shareholders are left in the dark to speculate.
It’s obvious that things are not working out with the Tim Harris grand plan in RSA (or China) otherwise we’d have heard about the glowing results and not simply that a battery wasn’t stolen due to its weight.
Tim Harris has failed to deliver on both Sth Africa and China.
How about focusing on the many opportunities in our own backyard before wasting valuable resources chasing holy grails outside of AUS.
Cart before the horse.
Cutting excessive remuneration packages and applying those savings towards R&D in an endeavour to sizeably bring down manufacturing costs should have been done long ago.
Simon Hackett is the only one who can make changes required to get us on a path to success as he appointed those now in charge.
Simon Hackett simply buying batteries for his own personal use and getting a fleeting moment of glorified exposure for RedFlow isn’t working, there needs to be more.
Knock a few Board heads together Simon or better still remove those not performing with hungry people willing to go the extra yards to prove themselves on modest salaries.
Put in place rewards for Success NOT Failures, something the current management have masterminded to perfection.
Aggressive blood needs to be found quick smart otherwise the next dilutive CR (and it’s coming) will be the last unless we go into Voluntary administration beforehand.
Like you frostieshake I’m also hoping we get lucky with Gen 3 but also hope we dodge a VA bullet.
Until we have management in place that can deliver upon sales my concern and outlook for RedFlow in 2021 isn’t so bright.
Hindsight is a wonderful tool to recognise mistakes made in the past to make change for the better but only if recognised by those that have the courage, ability and know how to implement change.
Balls in your court Simon Hackett, this is the board that you appointed and that you alone can change.
RFX Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
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