Shareholder-Value
In soccer you would say it's 0:2 against Ceapro.
(Beta Glucan + Energy Drink)
The transformation of Ceapro into a biotechnology company is making slow progress. A lot of fantasy but little tangible. Everything is taking longer than mostly predicted.
Unfortunately, most of the opinions here on the bullboard are either all white or all black. More realistic is often neither one nor the other, but a wide variety of shades of gray.
The 3rd quarter results disappointed shareholders so much that looking back at the 1st half of the year didn't help either.
On the contrary, the permanent share sales suggest that the 4th quarter figures may also disappoint.
Since Gilles has always been at war with the concept of "shareholder value" in the past, shareholders can only expect a turnaround when there is fundamental positive news.
On December 2, CIAO attached an interview of Gilles and, when asked about a dividend, only laughed and made it clear that the company under his management is exclusively going in the direction of reinvestment. (play at 1.16.15 min)
If we shareholders would only receive what Gilles pays out as salary (approx. 1c per share), I would be satisfied in the current situation. But even if you demand only 10-15% of the net profit, that is an imposition for him.
Shareholders should provide the capital and otherwise keep their mouths shut. That's what shareholder value looks like to him.