Post by
nozzpack on Jul 24, 2022 2:31pm
$310 Million US in Investments
That is excluding current cash from the PLM sales.
These investments, in particular Kognitiv, are not making us any money but declining in value to the value of $15 million US in Q1.
This negative performance by the Mittlrman boys is consistent with both the short term and long term ( 10 years ) negative performance of the Funds managemed by the same chaps.
In my view, what little value ( I see none ) is left in Kognitive will be /should/be written down to zero in the upcoming Q2 in August .
So, what we should do is quickly monetize these Investments and give half the cash to common shareholders as a tax efficient dividend and the remaining 50 % or so consolidated with the PLM cash and invested in solid free cash flowing companies with a wide moat.
To do so with comfort and confidence that these funds are wisely invested, we need to remove the Mittlemans and those who received 25 % of more dissenting votes in the 2022 AGM from our BOD.
Essentially, a significant reduction in the BOD, removing all those involved in managing our remaining Investment Portfolio which becomes redundant with the monetization of that portfolio.
In essence, we become a hybrid dividend stock, combining growth and dividends in a debt free company.
Lean and mean and, using our tax loss pools, throwing off plenty of free cash flow to sustain dividends and modest funds for bolt on inorganic growth.
All of us need to send this message to management.
We hold the larger balance of shares in any vote..
Comment by
Commonguy on Jul 25, 2022 3:28pm
I am glad you are here nozzpack with your honest intuitive explaination of the red flags we are all seeing. nozzpacknozzpack
Comment by
Konaboy on Jul 26, 2022 12:29pm
Hadituptohere - any comments on the share price suppression??
Comment by
Konaboy on Jul 25, 2022 11:02am
All good, I know I sound disgruntled, this is definitely the stock that I love to hate :) I appreciate all of the info you are sharing, and appreciate that liquidation would not be trivial. All the more frustrating that we are in this hole with the cash that they had, and the impression that we might go further in. Do you truly believe we are at the bottom of the bear now?
Comment by
cashworx22 on Jul 24, 2022 5:54pm
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