Henry Ford's vision enabled the Company to gain the critical...

Henry Ford's vision enabled the Company to gain the critical mass on which to build a hugely successful business. Possibly after being nearly wiped-out by a number of very poor decisions nearly a decade ago, VMT has gone on a cautious route to profitability at the expense of volume, but then it does very little with the free cash flow that this has generated. Most successful new ventures, and indeed most new programmes within successful companies do not aim to make massive profits early on; they gain critical mass in order to dominate the market, then improve margins based on the incremental benefit of volume, and then they sweat the assets whilst looking for new growth through new programmes. VMT is sitting on a healthy cash pile for the size of the Company, but its sales are still statistically insignificant compared to the market opportunity. And there honestly does not appear to be a clear strategy, which is why investors are shy to invest further at this point. All the forward-looking statements are vague and kind-of wishful, and without clearly defined targets are pretty worthless. Which is why we are where we are; stuck waiting for others to do the work and drag us along in their wake. I still think that it will be a good ride, but VMT is not charting the course and whilst stuck in this mode will underperform vs the market opportunity. 2000.