Reverse Split...here we come!Have you all read the recent news release? The release states that Kelso is not in compliance with listing standards and that "the company's continued listing is predicated on it affecting a reverse stock split......." My guess is a 1 for 7 reverse split to get it to about $1.00US.
This is the perfect exxample of shame artists at work for THEMSELVES. The BOD is clueless and does what Bond wants, all the while receiving large BOD fees and high salaries. Ths is a small sized company but is overloaded with do-nothing ex-corporate middle managers(never had to make a tough decision}, a divorce attorney, a playground salesman, a young college graduate who knows nothing about the industry, and on and on.
Bond decided to take care of his Kelwona buddies and financed the off-road Gizmo with funds from the healthy Rail company.....this has been going on for 5+ years with no end, and NO MARKET..This Gizmo is really is only for the weekend cowboys to play in the snow and mud. It has taken millions of valuable dollars which should have been plowed back into the Rail company to build and sell new products or even buy up small and similar companies.
And, if the truth were really known, Bond provided the original funding but had nothing to do with the product devlelopment or the tremendous sales effort and production facilites that got Kelso up and running. The person who did that work was forced out, and it's been down the tube since! Now everyone is just in for the fees.
There is one BOD member, Mr Crews, who actually is a VP(titltes are cheap!) at Trinity Industries, Kelso's largest customer. Trinity should FIRE him for not protecting Trinity's interest is maintaining a needed healthy parts supplier.
I could go on and on.....But the point is Bond has ruined this company but he and others are walking away with lots of money.....a reminder...they all did the same thing to SIQ.