GREY:XEBEQ - Post by User
Comment by
TradeProon May 17, 2022 7:37am
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Post# 34688473
RE:Don't Iike to post from my phone but...
RE:Don't Iike to post from my phone but...I have to agree with tamaracktop. The compensation package that the shareholders have approved at the AGM will pay them well, even if they deliver millions in losses. Costs have exploded and are not managed properly, but it is not only costs that seem to be a problem, it is execution. The company has over 260 million in orders, so all that is required is proper execution. Both Vounassis and Munro have been responsible for execution since June 2021 when they started at XBC. The results so far have been disappointing and it is now becoming questionable if they will be able to deliver going forward. Vounassis comes from Bombardier, a company know for its messed up operations. This hire was most likely a big mistake.
Cash use sits at 16 million a quarter, or over 1 million a week. This is not sustainable and the need to raise money will be pressing very soon. The market is recognizing this and will trade the shares down further. Not a good situation for current shareholders. Given that neither the Board nor the Management own any shares, this will not be an issue for them, except for van Driel.