COVID-19 is part of the issue. Demand for tooling is...

COVID-19 is part of the issue. Demand for tooling is predominately from the airline industry and we all know how that has gone.

The new board has some smart and capable people and should get this on the right track. Reducing costs and making sure the right people are employed should be at the forefront of any strategic review. Next would be to prioritise sales that have a chance to close. A lot of time has been wasted negotiating business which has little or no chance of closing. Commercial acumen has been largely absent in head office. Jeff needs the right people around him and I question the current roster and some of the appointments.

The board will also benefit from getting rid of Richard Fox and replacing him with someone with contacts in the right places. Richard has been a silent partner and its time to move him on.

Additionally, they need to get out to the investment community to start marketing the story once revenue drops from the ‘sale’.

Have a good w/e all. I intend to work on my tan now (in a responsible way) & enjoy my w/e. All the best from the Spongieman