FormerXBC Inc XEBEQ

RE:RE:In case you missed the end there

[ZouZS3]

Yes, Kurt's misteps! Kurt didn't learn how to put its shareholders' interest first. The quality & conduct of all previous executives is questionable. Management should say what they will do, then do what they said. They should admit their failures and take responsibility for them, rather than blaming all-purpose scapegoats like the economy, uncertainty, covid or weak demand. The tone and substance of Kurt's message fluctuated with the latest fads on wall street. He suddenly declared that they were on the leading edge of the transformative energy revolution. Their obscenely obese payday suggest that the firm is run by the managers, for the managers. Prahbu and Kurt were not managers they were promoters. They should have spent most of their time managing their company in private, not promoting it to the investing public. Too often CEOs complain that their stock is undervalued no matter how high it goes. Managers should try to keep the stock price from going either too low or too high. Meanwhile giving guidance and constantly spewing forth press releases boasting of temporary, trivial or hypothetical opportunities. They couldn't just say no to analysts' short term thinking. Moreover, Their accounting practices weren't designed to be transparent. We had extraordinary items, and ebitda took priority over net income. They were "serial acquirers." An average of more than 2 or 3 acquisitions a year is a sign of trouble. After all if the company itself would rather buy the stock of other businesses than invest in its own, shouldn't you look elsewhere too? Watch out for corporate bulimics. These are firms that wolf down big acquisitions, only to end up vomiting them back out. Xebec was also an Other's People's Money addict. They borrowed debt or sold stocks to raise loads of other people's money. It's called cash from financing activities. They can make a sick company appear to be growing even if its businesses are not generating enough cash. Another thing I don't like is that it's relying on one customer for most of their revenues. // Among the good signs, I feel xebec has a competitive advantage because it's building a strong brand identity. Xebec also has the ability to supply huge amounts of goods cheaply (scale). It also has a unique intangible asset.