Presumably more so than you, since my post makes no anchoring...

Presumably more so than you, since my post makes no anchoring reference. It's merely a statement of fact. How you choose to interpret with respect to future performance is up to you.

Our MD has failed to meet his own targets repeatedly and torched shareholder capital with no consequences. How long until we finally accept he actually doesn't know how to run a profitable business?

A brief history:

15-10-19:“The Company anticipates that it now has a sufficient operational working capital buffer to move to net cash generation and positive earnings in the medium term without any additional capital raising.”

15-01-20:“The Company continues to take a prudent approach to cash control which has improved cash flow dynamics over the historic and forecast consumption rates”

18-03-20:“Spectur maintains ample cash-at-bank to fund ongoing operations.”

06-04-20:“Spectur has adequate cash reserves and sees no need to raise capital.”

20-04-20:“Spectur is forecast to maintain a comfortable positive cash balance for the foreseeable future”

CAPITAL RAISE

09-07-20:“We have actively limited the issue of new shares to minimise dilution and respect the interests of our shareholders who have supported Spectur’s growth to this point.”

20-07-20:“We have demonstrated that we can manage costs and achieve cash flow break even... I am optimistic that the revenue growth that we are expecting, and the limited additional deployment of growth funds, will bring us to revenue growth, cash generation and enhanced profitability.”

31-08-20:“Growth investments are intended to create the underlying infrastructure that will drive and support revenues to $20m and beyond in the next few years. We expect FY21 to be a company-defining year.”

27-04-21:“The Board feel it is important to demonstrate to our investors that we are adequately funded to take the business to the point of self-sustaining commercialisation. Issuing further equity at the current depressed valuation was deemed by the Board to not be in the best interests of shareholders.”

25-10-21:“Whilst there was some cash consumption in this quarter, the majority was for one-off or annual costs...”

20-01-22:“2022 is shaping up to be a game changing year for Spectur.”

CAPITAL RAISE

25-07-22:“We have a clear strategic path and, with recent funding activities, the balance sheet to execute. It is our expectation that the work we will be doing to build the sales and marketing resources, globalise our technology and plan for further expansion internationally will drive the inflection point in sales, revenue and ultimately profitability and cash generation.”

06-12-22:“Healthy balance sheet”

28-04-23:“It is expected that some reductions in overheads, combined with expected ongoing margin improvements and top line growth will underpin the drive for financial independence and reaching consistent positive earnings”

CAPITAL RAISE

...

Honestly, I've probably missed a few capital raisings in there. Decided for yourself whether this is the kind of management you want...