OSI Geospatial Inc OSIIF

new streamlined company

[tenacious1]

  It sounds like Vancouver will be the new centre- Purio and Girard, the new VP finance, are both centered there, so Ottawa probably will be closed. Girard has been the guy involved in the sale to Harris, and the sale of Mapcon, and I would expect further slimming of the company will occur with asset sales, taking it back increasingly to a naval based operation. Given the present cash situation, and the stupidity of any further dilution at these prices, indications are that the Board is taking serious steps to ensure adequate liquidity, cutting costs, and focussing on new directions. My contacts with the company leave me feeling quite positive. I invite any other information from other long-suffering shareholders. Doug.

[6inside]

dougie, do u know if kk completed any deals that he was trying to secure, and had enough or he got the boot cause he was useless, in our letter to the shareholders 2011 was suppose to bring significant wins, or is it back to the drawing board,

[fistmaster2]

I'm afraid it is back to the drawing board in many respects.  KK was booted because he was useless.  The guy was a facilities manager trying to be a high flying CEO - it didn't work. He continually flip-flopped on strategy, he couldn't control the US operation under Zachary, (who was up to something so I hear, until he got caught out, allegedly).  You could count the

[fistmaster2]

Dougie,  You are right, there will be more asset sales and cost cutting.  However, I don't think this Board is capable of reversing the decline.  They have stood by fiddling as Rome burnt and, as I said in another post, were complicit in its demise.  The Ottawa office is shut and all the people there have been fired I believe.  Gurard is a finance guy with

[stockbuphoon]

This thing is dead! Bail out your nickels and dimes..... should have got out when Helmut left in 1990's

[berrisfueller]

KK completed any deals? Are you joking? He didn't quit, his sorry finally a** got well and truly fired. Every year KK made promises that were rarely if ever kept.

[berrisfueller]

Unless Purio has retired from driving ships, he will only be able to fill the role temporarily and he has never run a company, so who knows if he could run this company. From what I heard, Girard is good at finances, but would not be a good CEO. I also heard the guy who has been running operations since KK fired the GM is well respected by people inside and outside the company. Maybe with

[fistmaster2]

You're right Berris.  Purio is runnning it in between cruises.  If Johnson was worth his salt, he would have stepped up to the mark, but this is symptomatic of his lack of leadership.  He endorsed the lame KK strategies and has his handprints all over this - he should do the right thing and resign....fat chance of that while he is pocketing our money!!!Girard has no relevant

[berrisfueller]

I also heard there were lay offs and resignations at CHI. Not a good sign. As for selling the solder system, CHI is a contract research company, not a product company. They they could not have productized it themselves and they did not have the money to do it anyway