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11/01/18
07:28
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Originally posted by wallstreet2
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Totally agree. MO ( and the Board) need to be given the opportunity to formulate a plan that will ensure that CCE survives as a going concern, because the way I see it that may not be a foregone conclusion.
Flying around the world doing Power Point presentations has proven fruitless to date , and all the promises have added up to nought (sorry- negative cashlow$$) and the time has arrived for at least 5% of shareholders to demand the Board call for a General Meeting for the SH group to discuss and address exactly where the Company is at and what they plan to do to convert CCE to a profitable Company as soon as possible.
CCE cannot continue to survive indefinitely by relying on Tax refunds, R & D refunds and Capital Raisings ."Sales" is the only life blood of a Company that will lead to a net profit for the benefit of all SH.
After 11 years or so enough is enough .
CCE purchased EMC "out of the blue" and my initial reaction was a positive one given the Budgeted/promise that EMC would generate some $30 mil in sales for this financial year (I could be wrong with this figure off the top of my head - but correct me if I am wrong). Nevertheless it would appear that EMC may fall way short of this Budgeted amount.
On reflection one could be cynical and form a view that the EMC purchase was a diversion from CCE's then core business of Wave Energy which appeared to drag its feet.
I am very disappointed that during a period of unprecedented growth and opportunities in the Renewable Energy era CCE is virtually still irrelevant on the Australian and world stage and still a long way off in becoming profitable.
My above comments and previous Posts are not a "whinge" but a grave concern about CCE surviving in its current business plan -- it is not working IMHO and time is fast running away from us SH. Our invested Capital is at risk. The current Share Price does not lie !
I truly hope I am 100% wrong .
In the meantime if any SH/Posters feel the same concerns please reply with your email address so that we can communicate outside this forum . If we wish to make demands of the Board we need 5% of SH (one or collectively ) to initiate any discussions with Board members.
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Great post. The straw that broke the camels back for me was the EMC deal which I believe we were misled on from two fronts. The first being the projected revenue of 2017 being 17 million and 2018 being 30. We are not near that. But also at the time I tried to find out the profit and could not. You see the use of the word revenue was very clever. Millions in revenue sounds great but not if you are not making profit!!! All the time MO is collecting a ridiculous salary year in year out.