GREY:XEBEQ - Post by User
Comment by
Motownwingon Mar 15, 2021 4:13pm
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Post# 32800989
RE:RE:RE:Answer me this
RE:RE:RE:Answer me thisMy two cents. IMO, major issues on long term contracts that include severe under-estimation of costs, cost overruns, customers in financial difficutlies, order cancellations, etc... do not happen overnight. It seems more likely than not that the management team has known for quite some time that the company was facing major operational challenges. However, the information was kept in house and I doubt that external board members had a clue (they often find out just before the general market lol). Last fall, the company had a lot on its plate: closing the HyGear acquisition for Dec 31, closing the 200 M$ private placement (@5.80$!) needed for the acquisition (including 65 M$ with CDPQ) and closing the 59M$ working cap financing with BN. IMO, the company could not afford to release a negative NR. The CEO has a huge hill to climb with stakeholders. Trust is likely gone. AIMO GLTA