Lynden Energy - Colin Watt - Director of KCKHi All and TripleRighandjob (starting to sound like a fun time) ;),
I have been looking more into this Colin Watt character along with all the directors / officers on the company.
Lynden Energy
Here is the skinny and this is what concerns me:
Stock price: $1.12 to under $0.30 - this could be partially related to commodity prices but digging into the story deeper uncovers some interesting facts.
There revenue decreased year over year for Nine Months ended March 31, 2015 and 2015 from $21.8 million to $17.7 million while G&A increased from $1.03 million to $1.7 million and more worrisome they moved from Net Income of $15.5 million to $30,000...are you kidding me?!!!
This is just poor management and THIS is who KCK has on their board. Someone who has seen revenue drop by ~$4 million (commodity price related) yet allows net income to drop by $15 million.
This is a poor manager and it worries me that having someone like this on the board will only lead to further value erosion and to be honest ruin what I beleive is a great asset.
Lets not be fools here - Steve and Ray work for the board, Colin Watt is a board memeber thus Steve and Ray's Boss - is this someone you want running the company...?
I sure as heck do not.