Absolutely true. The management spent too much time and money trying to prove that the projected path is the path to company's prosperity. They even failed to achieve their own meager estimate of $1m per year in revenue from Nexus, being more than 50% short.
If you do not want to see the company lose another 70% of its value pretty soon, you should vote for the board whose interests are aligned with yours, not with people getting fat bonuses while destroying the shareholder's value. The VIEX board.
Continuing the course of business will result in further destruction of share-owner value. That is unacceptable. Equity have been in a free-fall since 06-13, with no end in sight. The business model needs rapid acceleration, or a deliberate adjustment to put operating costs in balance to revenue, that we are cash-flow positive, and demonstrate additional value to our equity. VIEX has put at risk much capital to gain control, because they want to maximize share owner value in the immediate future. Likely, through a transaction with another party. In any event, VIEX acts with urgency, recognizing that the current business trend is unacceptable. I am inclined to vote VIEX and urgent change to the course.
I'm using historical data at "https://uk.finance.yahoo.com" and it have been working really great until some days ago.
At the moment there is a number of swedish stocks who not are updated after 3th of may. Like FING-B.ST, BETSB.ST, NCCB.ST ....
It's a viable business model. The " Burn Rate " has SPRT looking good into the future. The great thing about SPRT is the recent add of talent in their sales area. A few new accounts and SPRT will be flying. As it will push revenue up at a rapid rate. Then shortening the time frame to profitability. This stock should be trading in the $2-$3 range based on cash and forward earnings.
Sentiment: Strong Buy
If you look at the history, they seem to realize they need to change but have been completely unable to do so since august 2013 (just look at their previous announcements and the share price chart).
Plenty of cash for now. But ongoing losses will eventually chew that up. Is this simply a poor business model or Is there any one else in this space that is succeeding?
It's not like the business is turning around. Metrics for every quarter is getting worse and worse. I would say: "Save the travel expenses - stay in the office and fix the company." Of course, executives tend to want to be in the public eye more when they are looking for a new job so maybe there's a silver lining here.
Need to be accelerated by a factor of 4x. Not satisfactory. Head counts and a rigorous pricing model that results in bottom-line profitability cannot be delayed to full implementation over a 24-month horizon. Discontinue unprofitable contacts, release the bottom 25% of poor performing independent contractors, and bring corporate headcount below 200. But shall they? No. 99% businesses restructuring are incapable of making the tough decisions with any alacrity. The need the likes of a Walter P. Chrysler.
I have followed countless public-company restructurings....only the few that sacrificed the status with a sense of great urgency survive. Much more focus to create immediate opportunity through the above is needed.
I hope my concerns are proved unfounded. But, I have not heard what I expected. For a company that is quickly restructuring, Support Inc., ought to examine what Imation has, and is doing.
Amazing that a shareholder meeting hasn't been scheduled yet. Their investor page just got redone with pretty graphics and a whole spiel around corporate governance and ethics - but they are avoiding facing the shareholders who are the people that owns the company - not the board and not the management team
agreed, management is unfit to run a company and only looking to line their own pockets. Burning through cash until 2018 is unacceptable. No reason to own stock in this company until there is a new CEO, new exec officers, and a new set of BoDs that are focused on operating profitably.
watch and see if these people are raiders who is going to strip the cash out for themselves. Interesting that they are using an entity VIEX which is different then Vertex which is different then the principal who acquired the shares - lots of corporate slight of hand - not saying the old board did great things for the shareholders but I would be worry about the intentions of this new slate regardless of what they say
Boot the pigs away from the trough. They have eaten too much at shareholders expense. Good to see there will be some directors nominated who might have shareholder interests in mind.