So as suffering shareholders, what have the 'New Board' and 'turn around team' actors actually done for us?
No new plan or vision, strategy announced.(Maybe that's simply because there's no-one on the Board, including the 'interim' CEO having no prior experience or skills whatsoever in wearables or consumer electronics.)
Massive 'restructuring' costs leading to where?
Appalling gaping blind spots in announcements and presentations.
Shameful absence of the Board sacking the the smartest, brightest people in the industry and the betrayal to us the shareholders, and huge loss to our once successfully company. .
Moochies and Xplora seizing the opportunity, killing space talk in sales, leaving spacetalk in their rear view mirror and dust.
No spacetalk US staff left - every staff member fired. Our European distribution in chaos. Smartest CFO in the industry gone, together with his accounting team. No more head of Investor Relations. Share price at an all time low. Ridiculous re-capitalisation of the company at 45% dilution to you and I.
What a great job our Board has achieved!
So what will we see in the coming weeks? Results of capital raising with shameful results? A thousand apologies for Christmas sales?
or what's really needed... An apology, retribution and resignations from the Board
followed by... the inevitable 2023 Shareholder Class Action
SPA Price at posting:
2.6¢ Sentiment: None Disclosure: Held
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