Management has to take some responsibility for this share price plummet. We are paying them good money and yet there are rookie errors that are being made, even by the CFO.
- Miscalculation of expenses in the last quarterly. How did we get net operating outflow of $2,727 when expenses do not add up to $4,306? Staff costs of $138k? Surely a transposition error?
-Quaterly states expected outflows of $3803 next quarterly with cash receipts generated to be within $2.2m and $2.5m resulting in net outflows of around $1.1m to $1.2m - how does this even make sense?!
- Last payments to Nanotron - why isn’t this included in expected cash outflows? If not, why isn’t there anything indicating an extension
- Simple errors in various announcements mixing up FY18 and FY19.
I hold a substantial amount of shares now and am paying these guys big bucks to run the ship. Run it properly dammit! Such errors should not be made.
I call it as I see it.
SE1 Price at posting:
9.9¢ Sentiment: Hold Disclosure: Held