Afriens wrote: Investors would have be better off, simply throw their money in the wind, in hopes of any return.
The CEO has no experience whatsoever managing a business. Not even a chip truck, and yet, for some unknown and frankly insane reason, people have thrown their money at him without even reading his resume. Critical fail.
Worst, by doing so, a megalomaniac without any tangible knowledge whatsoever of businsss, has been empowered to torment staff, to blow money like a 15 year old with his parents Visa card at Disney. The CEO has taken every ride! Ignored any relevant business advice he has seemed to be given, ignored basic business principals (again...zero actual experience or knowledge of how to run a business) and has personally driven the business into the ground as a result of his ignorance and incompetence.
This is a company without a single exclusive contract for any of their space, in fact, they don't have contracts, they are simply one of two or three suppliers. LCBO contract was lowest bid win and noperates at a loss.
Spent $45M this year on acquisitions, only to have $33M completely blown on a consulting acquisition that no longer exists, and the purchase of a sub-tier cash in transit company that on its best day was losing more than a million dollars a year. Inka value is $2M at best.
Complete management team has been changed, until only those left are friends of the CEO who don't question the crazy and rediculous practices that he continually employs. Most of which, serve his own bank account and ego. Family on the payroll. CEO paying himself 3X what he should be. There is fraud here.
Board members have quickly and quietly ran as fast as they could to distance themselves and their reputations from this company for good reason.
Untrained staff. Operating under false pretense (provincial gun licenses/security guard licenses) the entire enterprise from the first day has been smoke and mirrors.
How anyone read his resume and chose to invest in this business is beyond logic. At best, the CEO can perhaps call himself a security consultant. But in reality, even that is suspect.
The company will be bankrupt in less than 30 days