I don't disagree. He should have a salary of ~200k and lots of...

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shaftoe

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01/12/17

12:46

Post #: 29290193
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Originally posted by Reillyblue ↑

Hey, here is my response to your mini-rant. Re dividends - you missed my point. I don't want dividends. I want MO to be held accountable for the situation the company is in. He is a great spin artist. He earns a ridiculous amount for a company that has not turned a profit and has been at the helm for 11 years. So just a couple of questions:
How much cash do we have left? What was the current cash burn rate? how long will our cash last us? Will we have cash to last these long lead times for the projects you mention? Point is we are not a lean well run company. We burn through money at a rapid rate. If we don't get an increase in revenue soon a further cash raise is on the cards.
When was ceto 6 originally meant to be in the water? when did MO project commercialisation of CETO 6? He sold us a line that was just unrealistic. So much so that the company even reassessed whether to continue with CETO. Now why were we not told that this was being reassessed? This was only let slip in a recent presentation.
What was the original projections for revenue of EMC for 2017 and 2018? Did we hit those? Nowhere near. What was the profit of EMC when we bought it? We were never told. Revenue was hyped up but profit was kept quiet. So if the dividends MO is referencing is taking out of context, and Ill take your word for it, where is our profit? We can't continue like this and the projects we have are not going to bring in enough to sustain the company. That's why they go after these "hail mary" tenders like SA battery. After they don't get it the "spin" is oh well you know we are after more specialised projects. Really??? Why did you go for it in the first place. Simply because they need the cash. The buck stops with MO!

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I don't disagree. He should have a salary of ~200k and lots of performance shares. Align everyone's interests.

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