RE:RE:Another chance today to buy cheap shares........ 5 CEOs in 5 years.
I know someone that has been divorced three times. He said, "the first time, we were too young. The second time, we grew apart. The third time, I finally realized that it was just.......... me"
The Chair has been divorced from his CEO 5 separate times in 5 years. This is a record of any publicly traded company on the TSX with a market cap of $200+ million.
There is no trust in this Board or in management. Fired CEO. CFO jumps to a penny stock. Now there is Board turmoil, a shareholder revolt and extremely bizarre developments. Delayed financials. Released proxy materials which provided material information regarding the significant financial miss to be announced. Move financials up a day to correct that mistake. Let everyone down that ITS is only going to deliver less than half that was promised. Then announce Apple signing (with no details) because Apple wouldn't agree to move up the announcement with less than 24 hours notice. The incompetence is bizarre.
Then all the analysts cut all of their price targets because they didn't have the Apple announcement to distract them.
This level of incompetence is only seen at companies where people are just paid employees and are not owners. They do not buy any stock. The last meaningful transaction of current employees / directors was Jim Skippen selling a 1/3 of his stake for 2.30
And what hangs over this stock as a HUGE CLOUD OF UNCERTAINTY is a remaining $150 million base shelf prospectus where management and Directors that own a puny amount of shares can - without any regard or concern - dilute shareholders by more than a half. And shareholders have no recourse.
And where they killed the confidence in shareholders is they knew the Motorola signing was insignificant. But they opportunisticly faked it and used it to sell debentures.
Analysts have been duped. Investors have been duped. So when the Apple news came, people did what their instincts told them to do... they said... this could be another Motorola situation. It could be nothing deal. Maybe they are just trying to goose the stock to sell more common stock or debentures. So GTFO!
That's why the stock only went up 22 cents after the news release we were all waiting for 10 years.
The stock is not investable.