RE:Report II. Quarter DetailsThe Gilles regime has inculcated a culture of failure, where the insiders get paid no matter what and shareholders are not even a consideration. Here we have it again. The Brain trust , if I can call it that, has some crazy plan afoot to uplist a company that will need to report a couple fantastic quarters just to reach 15 million in revenue this year . This is a joke. Just listing on the nasdaq will increase the SG&A dramatically. With increased reporting and maintaing compliance in two jurisdicitons. This team has never been able to grow the actual business and I know I have told this story before but when I asked what they do to drive sales the aswer was " we dont do anything" So the base business has been on autopilot for years while Gilles takes repeated victory laps for double digit growth for which he did nothing. That lack of basic business development is coming home now.
Every single thing Gilles has ever suggested would happen has failed to materialize. Every time. 100% failure to deliver any value. Now somehow we are back to building a plant in Europe because in a moment of impulse Gilles purchased some equipment. Again we have no business building a spec plant in Europe with the incredible added cost of hiring and training and overseeing labour and sales at a plant that as of this moment has ZERO customers for its product. This is a classic case of throwing good money after bad, but lack of any strategic vision is a hallmark of this company.
Year after year failure after failure for a decade and now we are supposed to believe that a man who couldn't run a company that makes two products and sells them to one customer who has never cared about shareholders but always paid himself first is going to be our savior.
Never going to happen, if this company is to be turned around it will be by preassure exerted by the shareholders everyone of which is nursing huge losses either directly or by having money tied up in this company which has provided a ZERO RETURN FOR TEN YEARS.
I am pisssed .