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Performance Rights, based on MSV targets during the period 1...

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squidbrain

725 Posts.

152

01/09/21

19:13

Post #: 55760242
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Originally posted by IsdHope: ↑

Hi Vamos, Sneef and Treba and All Others

I have reviewed SPT's latest results on 31/08/2021 and I like to pose some questions for you all.

First question:
The company achieved USD $172.5 million of market sales volume this year.
-- Yet, the new CEO will be issued with performance rights in the following manner:
500,000 - if achieve market sales volume (MSV) of USD$140 million to $160 million
750,000 - if achieve MSV of USD$160M to $190 M and
1,000,000 - if achieve MSV of USD$190 M or more.

Isn't it ridiculous for the new CEO just to carry on the same way and achieve the same outcome with little effort and still achieve the 750,000 performance rights?

Second question:
SPT raised $90 million in 2 tranches of capital raising in 5/08/2020 and another $10 million on 18/09/2020 from the heavily oversubscription of shares value at $89.5 million which SPT had to return the money to the unsuccessfully share holders. Together SPT raised over $100 million in funds. Yet in the latest recent report dated 31/08/2021, SPT only has $66 million left. How did SPT spent over $34 million in just one year?

Third question:
After spending $34 million in just one year, it only achieved gross revenue of USD 5.5 million (A $7.49 million).
How can SPT justify spending 4.5 times more money to achieve gross revenue of $7.9 million?

Please response.
Isdhope

Expand

Performance Rights, based on MSV targets during the period 1 January
2022 to 31 March 2022 as follows
Performance Rights MSV Target
500,000 MSV of USD 140.0M or more and less than
USD 160.0M
750,000 MSV of USD 160.0M or more and less than
USD 190.0M
1,000,000 MSV of USD 190.0M or more.
Check your time frame bud.

Last edited by squidbrain: 01/09/21

SPT Price at posting: 43.5¢ Sentiment: Hold Disclosure: Held
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