My question is why release that information - loss of a major customer and impact on revenues and not the other 4 new contracts. They must know the share price will take a hit - maybe they don't care. Maybe the 4 new contracts are not material in nature or don't have the same margin, dont start until 2020, etc. etc. I would really take that comment about 4 new contracts with a big grain of salt. What we can be sure of is that Q1 revenue will not be as good as anticipated. WRT spending, I think the jury is still out on that. I haven't seen any return yet on some pretty strange recent purchases. Maybe they will strike it lucky with EON but so far these seem like a waste of shareholder money. Be aware that management's job is to sell the company so at the AGM that is exactly what they will do (check out the posts on RCR Tommlinson as a good example). As investors we need to decipher the hard facts from the BS and keep emotion out of our decisions.
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