Here we are, getting closer and closer to having our investment wiped out. Since the EGM, there is no communication from the board. Not even a "thank you" to the shareholders that kept the board in their jobs. And stellar job they are doing. MC of under $2.5 mil, expected lower FY revenue and no new business.
It is interesting that the major institutional shareholders are so quiet. One would expect that they would be screaming and yelling for something positive to happen. Did the board told them something to appease them? Something that we small guys will not be told as we would see right through it?
DDT website updated, interestingly the CEO is not credited as a Board Member - bad publicity as the bucks stop with him and his results are just terrible and leading nowhere.
DDT quietly also added many products and services to their portfolio. This is great and long overdue - but one huge negative issue. Nobody at DDT has any idea about the technologies the products, the market and the potential customers. Even worst, none of the new products or services are produced or made by DDT, all would be sourced from third parties.
Beston merger details were to be announced by March. July upon us, no word. Is it because it is impossible to get a $7 mil. valuation on DDT and even harder to get a $13 mil. valuation on BT? In reality the total combined valuation is somewhere in the $3.5 mil at best. I think they hit a brick wall and have no idea what to do. Cash is running out and to raise $12 million to keep themselves in the job is utopia.
It is criminal that the Board is not informing the shareholders of what is happening, clearly they feel empowered to run the company to the ground and prolong it as long as possible to have their jobs. In a private sector and running a company as they are running DDT, they all would be bankrupted and quite possibly under a criminal investigation.
But the sad truth is - the board only get's away with it because we, the shareholders, let them do it and getaway with it.
DDT Price at posting:
0.3¢ Sentiment: Sell Disclosure: Held
