Qtr. ending 6-30-12: Net loss a $2.0 milion or -$.41/share.
Qtr. ending 9-30-12: Net loss a $2.1 million or -$.43/share.
Qtr. ending 12-31-12: Net loss a $1.6 million or -$.32 share.
Two executives left with sevrance a $500,000
New CEO hired and given 100K in options
Board chairman gets nice salary as Executive Chairman and 100K in options.
Fellars, somethin' startin' to stink here and I tink it begins in the boardroom? When are they goin' to regin fer this POOR PERFORMANCE. Do these fellars actually want the stock price to go to pennies at some point?? Sure statrin' to lookylikethat?
I sorta tink we either need the board to regin or some new blood here cause the current outfit sure got some problems with them big losses hurtin' shareholders and eventually employees? YIKES!!!
Those losses were due to the mess that the new CEO had to clean up. He's addressing short-term fixes first, then will tackle long-term growth. He has handed a complete #$%$ show. It's going to take more time to climb out of this mess first.
The board is incredibly hands off, so I'm not sure why they catch so much heat here. This is a stock that I'm VERY optmistic about. Plus, getting rid of Lyle and Jonathan were two steps in the right direction. O'Malley is a slick, no BS operator. He's not a "good ole boy". He was placed there by some pros and his compensation is incentive-based. They didn't sell the farm to get the guy, but he was literally the last hope for survival.
Fellar I hope you are correct but time will tell. This outfit been mighty good at screwin' things up the past 15 years or so. But twll me, iffen the board is so good and hands off as you say, why in the hell are they payin'em royally fer bein' "hands off"????? This just don't make any sense whatsoever. The workers sell the products and make money fer the compny and then it goes to the board and management and not to shareholder value. This is a prime exmaple a why the stock is such an effin' dawg. Investors see this and stay away. Iffen then don't change thissen will always be a $2 stock. Are management and the board that stupid? Glad I dumped some shares last year. Maybe, jest maybe, thar only hope is that new group that bought in 20% a the stock or so. I think that outfit is on to somethin' that could boost the share price. Seems as though Kidston wants a fat salary and mor options and the fellar aint perduced. What a crock. Will O'Malley jest warm the seat and take a fat paycheck and his 100K share options home in 3 years?? This whole situation stinks and iffen Kidston and the othern big shareholders want to see the stock price rise somebody gotter hit'em in the head with a 2 by 4 to knock some sense into thar brains. Kidstons approach sure aint doin' nothin' fer the stock price.