@AussieBryan My pleasure. I myself had fallen asleep in keeping up with this company, not realising just how bad things had slipped until I decided to research just where we are at.
Whilst I believe people should do their own research I also believe in sharing my research as it helps me keep track of what is going on and can help with pointers for others trying to do their own research.
I don’t know what prompted the change but clearly mid 2019 the executives all stepped back and the cash burn rate subsequently plummeted, POW are averaging a cash burn of just $170k a quarter meaning they should have about $750k at bank at the end of the March quarter so will need to raise funds later this year.
The board appear to be happy to sit back with no controlling interest in any business, letting others do their work for them, not even keeping up to date with what their active partners are doing. As I noted, we appear to largely be a silent investor. No executives, no management, no employees?
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