CEO letter from April 2019:"On the LIFX side, the general...

CEO letter from April 2019:

"On the LIFX side, the general structure of the business remains the same. We have made some small organisational changes within LIFX, including some much deserved promotions and realignment of responsibilities. Tim Peters will continue to lead the LIFX business as CEO, alongside co-founder Marc Alexander who will continue in his role as Chief Product and Technical Officer of LIFX. I am pleased to share the promotion of Suzanne Oehler to the role of VP of Global Sales, a much deserved elevation and particularly important as we consider our 2019 targets."

Tim and Suzanne left soon after and Marc now.

"Tim and Marc each will receive four million shares of BUD upon LIFX achieving each of the following milestones:
1) A$100M of cumulative revenue within 18 months of the acquisition closing
2) A$200M of cumulative revenue within 30 months of the acquisition closing
3) A$250M of cumulative revenue within 36 months of the acquisition closing."

Damning that they have both now left knowing these numbers were impossible.

Then 3 months later:

"Investors should be aware that we now have a radically focused and incredibly passionate group of over 65 employees across Adelaide, Melbourne, Shenzhen, San Francisco Bay Area and Seattle - all of whom are committed to our 2019 targets and to growing the business to profitability and beyond."

Really? Marc and Suzanne (who left around a month later) were focused and passionate? The CEO must be sacked. He has no credibility and continues to fail at every hurdle. Lifx acquisition has been a total failure for the price paid. Relying on Trade finance doesn't allow you to stock the lifx.com website which wouldn't qualify and provide for the American region with stock. How is Don Hicks meant to do his job? How has Don "hit the ground running" the last 2 weeks? What does that mean? Has he made sales? "Hit the ground running". More fluff.

DAVE OUT!