Board credibility - Why no Jan 10 preannouncement of Q4 ?The share price moved to about 2.60 in week of October preannouncement. They knew the approx Q3 numbers only 8 days after the Q. Fast forward to Q4. Licensing revenue came in at about 450K, Yes, K, And to add more hurt, the gross margin was almost negative 5M, Yes, M.Yes Negative.
They would have had rough idea of how bad the Q4 top line would be by say Jan 10, So why not pre-announce Q4 once they knew?
I will go further - with revenue at about 450k, they likely knew by Dec 15 that licensing revenues were not going to break 500k. Yet the board and management let it go until March 11. That is nearly 3 months and a very long time to sit on an egg.
There is a crediblity issue here. It is not a small matter. It should be a very big concern.