Share price it a 1yr low yesterday, right before the AGM. Itwill be very interesting to see how the GM spins this… the market must understandthat dealing in drone hardware to the government is a very low margin business,especially since XTEK is adding no real value. That’s the view of the customer I’mtold. These low margins coupled with outrageous overheads mean that there is noreal profit to be had despite the significant contract values. You would befoolish to believe the customer has not capped XTEK’s margin and audited thebooks accordingly. That’s standard practice. I believe, based on the currentstructure, XTEK would need $30+ million turnover from drones annually to justsustain itself. Profit comes after that.As for the GM, how can he justify $500K+ per year given that the drone businesswas already secured by his predecessor? The market must see that greedymanagement is gouging everything for themselves. I concur with a previousposter who felt sorry for the previous CEO and long-term investors…
XTE Price at posting:
43.0¢ Sentiment: Sell Disclosure: Not Held
