RE:It's AGM Day Ace,
AGM's at this stage are pretty useless events. However once revenue starts flowing and the market forces them to issue forecasts, you will see the AGM take a different role in the interaction with shareholders.
Until then, I guess we are stuck with the corporate updates and press release cadence we have now. I am not at all displeased with the cadence, but I would prefer they add significantly more meat to the bones they toss us.
I hope I am not witnessing the introduction of arrogance at the senior management level. I was not at all pleased with the lack of candor and the self serving statements from both Sue and Darrell.
They continue to stress how rosy the future is but rarely tell us what issues they are dealing with on the road to commercialization.
And had they been forthright in their communications two weeks prior to the financing announcement I believe the market would have been far more receptive to the announcement.
Why leave the impression that working capital was not an issue in the update, when at the same time they were out seeking new money.
And I was particularly puzzled as to why the head of HR was on hand to extole the virtues of working at EXRO when I can't get an answer or explanation as to the departure of the President of the only revenue generating division and a senior accountant in Calgary left. Are there more defections?
Time would have been better spent with the camera panning the facility and having Sue or Eric explain to the viewers what they are seeing or at the very least have someone explain what the people on the DYNO were testing and why?
I would also have preferred to hear more from Eric and Sue on how they intend to commercialize these new capabilities/applications and the competitive landscape.