Originally Posted by
Dentie
Firstly, perhaps if you had ventured from behind the parapet long enough to attend, it may have raised the quality of the audience? Then you could have asked the questions that were important to you...
Secondly, in terms of the CEO "knowing his stuff" - I was referring to his technical knowledge of the game they are in. There is nothing worse than having a "generic" or "theoretical" CEO holding the reins of a company - but having no technical knowledge of that company's business operation. Recipe for disaster!
Thirdly, yes - I did get up and questioned both Ross and the CFO in respect to what effect the Snakk shares had on its profit. I noted how the sale of the shares accounted for turning around the previous year's loss and asked when we could expect a profit from trading operations. My queries were referred to Sean Joyce (legal) who promptly shook his head. Evidently, the questions I was asking were deemed as "price sensitive" and therefore went unanswered. They did however point out that they quit the SNK shares at the appropriate time - as they have lost value ever since.
Fourthly, I questioned them about when a reverse split was likely to happen and they advised it would happen when it was appropriate to do so. Meaning when it was in the best interests of the S/Holders.
Lastly, nobody is more aware of what held them back than the Board. It must be hard to swallow when your products are in hot demand and yet you can't secure enough material to fulfil that demand. That appears to have now changed and they have supply contracts in place going forward. They also added they still have good future demand. I think I would rather have that problem to contend with - than to have all the product ready to go in a fancy new factory - but no demand to warrant it.
Easy to be an arm chair critic Apathy...the Board has good credentials and the main players have their own skin in the game. Nothing like commitment and risk! Looking forward to next year.