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.
CCE Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
