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Artaflex Inc V.ATF



TSXV:ATF - Post by User

Comment by elinvestoron Nov 28, 2011 7:52pm
287 Views
Post# 19272805

RE: looking forward to the q3 results, aren't you?

RE: looking forward to the q3 results, aren't you?I have had a chance to review the press releases, Jackbnimble, and what I don't understand is how a public company such as Adeptron can generate double the revenues of the acquiring company and end up with only 25% of the combined company?  What am I missing, this tells me that Adeptron's profitability, or lack of it, is a joke compared to the acquiring company. What has managment and the board done to this company? I thought the board brought in an expert from Israel, what value add did this person bring? I heard through the grapevine that Carruthers was part of the management team in Ottawa that went bankrupt, then why would the board have promoted someone who has a history of failures and more importantly no background in turning an unprofitable company, what was the board thinking? It appears the Israelis had no option but to take whatever deal was available and this was a clear win for the acquiring company. I sure hope the current Adeptron management team gets displaced shortly after the transaction is completed, otherwise the cancer remains.  As far as giving the CEO & CFO major compensation raises knowing the results may be challenged, then the board becomes accountable and should be investigated by the regulatory authorities. I would have expected the Israelis to be more cost conscious and not have approved the raises.  All in all, I am very disappointed with the new ownership structure, the board waited too long to make radical changes and it appears they were too cheap to bring on management who have been in a turnaround situation.  The current management team led by Carruthers has led Adeptron close to bankruptcy, but its not his fault, its the board's for putting someone who is incompetent in a position where is was destined for failure.  I sure hope the new leadership knows what they are doing getting involved in a company that has a history of losses.
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