`the next AGM should be interesting for those of you still invested
where do I start ...
its obvious that the management of this company from Sydney would be difficult.Not only are there director and management costs being duplicated , but the day to day controls necessary to cover cash flow and customer credit, inventory levels , production goals to name a few would be near impossible to manage from Australia. This needs to be addressed in my opinion.
The early investors have again been crucified by another massive dilution , which was not even flagged when the company was floated less than 12 months ago.Nothing more needs to be said .
The company was going to be cash flow positive by years end , and cash flow has been restricted because of significant delays in production, yet it hasn't stopped more management being appointed.
one has to doubt the new production will come on stream in March , if past form is any guide. Not a lot will happen between Dec and Feb from past experience.
The company was handed the near perfect pass , but in my mind they have dropped the ball close to the try line.I can only imagine what potential customers are saying.
Good luck to shareholders
CG1 Price at posting:
46.8¢ Sentiment: Sell Disclosure: Held
