Hey Hawkbar33,
Yes - Lest We Forget !!
I've been overseas in the past couple of weeks, but have been reading posts and following all developments with IMU.
Initially after the Q&A session held by the company, I was furious. Although having settled down, I still have queries and have issues, I want addressed by IMU management.
Firstly, the results (particularly Mast) that's been pushed back continually for what's been over 18 months now. Will we still be updated by mid year as promised ? Sure I'm all for transparency with LC & PH fronting up to investors, and seemingly not dodging questions. But you simply cant put on the performance's Leslie has, if there's nothing in the cupboard. In recent months she's had YF back IMU with supposed satisfaction, at the speed everything's being rolled out. For mine, just two months out from their own deadline - To basically say we've got nothing for you investors, but we haven't seen any adverse results yet. It just isn't good enough. Leslie has NO credibility remaining any more, for mine. She is in my belief, what I've titled her a few months ago- A Game Show Host (full of bubbles any joy, in a pretend environment)! If any meaningful results, will require years not months - Surely she cannot accept a $2m + Options in salary, for her contributions. She is a scientist not a CEO, and needs to start explaining herself, as nothing she's sprouted is unfolding. Nor are there any dance partners at the door.
So with a second strike facing this board whenever there's an AGM later this year, what can investors really do. It's such a highly specialized business and industry. Changing management would be riskier, than coping with the ones we've got. Additionally, would IMU be able to retain YF if those he's entrusted, are given the bullet. Leslie whilst not having an understanding as to why the SP is where it is, needs to justify and answer why over the last 4 years her salary has grown 500% yet the share price has dropped more than 93%. There's plenty of time before any AGM for her to become answerable and responsible both for her failure in providing returns for investors. Plus all she's done in creating false hope and any economy for this stock.
I agree with Slick with regards to doing a share consolidation of 20:1 but only after the share price gets above 10c.
I've previously said to place all shares in the bottom drawer until scheduled news and results drop before mid year. I'll now be selling in creating and realizing a capital loss before tax time. I will however set aside the proceeds, and buy back in the moment there's an unexpected rise in volumes and SP- As there's always a leak, before anything major is announced.
Sorry I cant be more upbeat, but I've always tried to tell it as I see it. Now it will take years rather than months, I'll be holding regardless, when it finally has its run. My sentiment as a buy is now only with regard of those prepared to hold for a few years. Similarly, I'll require many weeks in selling my holdings (hopefully something develops before then ) so I'll still be holding.
Lets hope this ray of transparency is on the back of something brewing behind the scenes. I strongly doubt this however, as I see them only facing the music in knowing the curtains were expected to go up, with no performance being prepared.
This stock will have its day- They simply have too many shots at goal ! You just need to be patient for years rather than months, seemingly !
-GO IMU!
Not Financial Advice - Opinions Only - DYOR!
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