thanks IloveicecreamsInteresting to listen to and certainly some...

thanks Iloveicecreams
Interesting to listen to and certainly some valid points re difficulty in getting paid, not making a profit and disappointing investors (i.e. promising the world and not delivering). They were saying that the reason the stock tanked was that they were never paid by the Saudi Arabian government, but my understanding is that is not true and the reason they tanked was because Covid hit them hard and they kept spinning a story that things would be ok for too long and were far too recklessly optimistic about alot of things particularly Spacelink (their achilles heel) and their pipeline/revenue projections (all of which I am sure the shorters would have loved) - in short EOS were not making a profit and were burning through cash.
Thankfully they got out of Spacelink before end of 2022 - a promise kept by the new CEO/CFO. I like the new CEO and CFO - no nonsense and to the point and don't prattle on like Ben Greene did who appeared to be a bit too hopefully that things would just work themselves out. I must say the presentation where Ben was nervously sipping water every 30s while trying to answer some fairly pointed questions from Fred Bart is etched on my mind. Promise of 30% reduction in total workforce, reducing operating sites/facilities and reduced spending looks to be on track. New CEO also said he would come back to us by end of October with business and revenue outlook which was done as part of the Business Activity Statement (31/10/2022) so look like promises are being kept.
Some thing I am not so happy about is the difficulty in contacting EOS - I have phoned their investor contact phone number (02) 6222 7900 and left a message, but no call back. Will try it again next week and report back. Have noticed the investor centre email [email protected] is wrong - it bounces back. The one that works is [email protected], but have not had an answer back - asked why they have stopped posting/updating top 20 shareholder list on their web site. Other stocks I own don't do it so perhaps it is part of their cut back measures - hopefully they are not trying to hide something, but I guess if substantial shareholders or directors sell then we would get a notice.
At the end of the day if they can continue to keep their promises and get money coming in/reduce spending so they can pay off the big high interest rate loans then investors will have more confidence.