GREY:RMSSF - Post by User
Comment by
Aeriehopeon Oct 02, 2012 10:40am
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Post# 20437298
RE: RE: Direction of the company
RE: RE: Direction of the company I could not agree more on the solidity of the RMS EDR. The system is very user friendly and it is adaptable as well. That is a good part of the point, this product should be on a lot more rigs. The previous management was making that happen with the right strategic alliances as well as building relationships in the procurement divisions of the large oil companies. They did that without a salesperson. This new group has five or more sales people plus they opened an office stateside and has manged to somehow not increase the rig count in any significant way. Low rig count equals low revenue. To summarize, they have dramatically increased expenses and barely maintained revenue and that shows in poor stock performance. The decision making of the board and management has been very poor and they should be removed. Bring back Mr. Webb and let him clean up this mess and possibly bond an alliance with Phoenix.