A customer?At the AGM, (which was very quiet by the way, I expected a blood bath) the company indicated that they were in the final testing stages with a significant customer, for a "new generation" GPS product that XST developed specifically for this customer. The product is said to contain "black box" features and functions not yet available in any competitive GPS products. I have it on good authority that the testing has been successfully completed and with some minor software changes, and barring any last minute hardware changes, the product is ready for prime time.
This customer is either an oil company or oil services company with international ops. It is said that at least a portion of the testing was done in the middle east, thus the lenghty delays in deployment. The contract calls for several hundred unit sales initially with several hundred more long term through to this customer. If the box is as good as what they claim, it might just have a chance.
The company changed its direction last spring when they replaced the management, and I for one couldn't wait to see the change. Unfortunately, what may have been good for the technology long term was very bad for the stock short term. The current management doesn't have a clue about the markets. Even with the unswing in the markets, this stock continues to bounce off three cents. There doesn't appear to be anybody outside willing to support the stock and with the old management gone, nobody inside either.
I am sitting on some significant losses in this stock, but is this the ray of hope?
If the info that is going around is true, and I did have to really dig for what I got, then this stock should recover to a reasonable level. If everything is true, with a market savy management team in place, this stock should take off. If everything is true, then the Flames may just make the playoffs.