Gay better not sound fuzzy or posturing like he needs a long runway to take off. If he does, he should be made to take off. He has been a CFO, he knows the numbers to scale ERIIiexpenses to revenues. Enough with the excuses. Aug. 6 th cometh soon. He better not even be perceived as derriere covering, much less continue in this vein.
Or I'd it being shorted to be acquired at distress prices? Any clues?j
The massive short position in relation to average daily trading volume would then be a plus.
It is all on how Gay and his chosen team perform. Any sign of Rooney like flawed execution and fuzzy guidance and he should be made history. Small caps can not afford mediocre management the way karge caps can and often do.
I repeatedly posted months before Rooney resigned that his commercialization strategy was flawed.
But I find Gays posturing, as if he is starting from scratch, sounds too much like derriere covering.
Hope he is more forthcoming. Why not publicly announce specific measures of performance and results for himself and his personally picked management staff. Execution leading to profitable commercialization within 12 months is a reasonable goal for non desal products to prove Gay is an improvement. The company has spent about 6 million dollars on management shuffle initiated by Gay. We need results.
6 million dollar quarterly loss against 200 K revs.
Remember once standardized WATT won't be the only player. Beware.
First the funnels: no matter how much he hyped funnels, what DRWI has bagged in actual revenues is lumpy, and three years later (12 quarters later) consistently money losing. They actually lose money each time they pay Nokia to include their gear in the RFP. Where Is the Nokia value add? This arrangement is made worse by their unimpressive progress in improving margins. Does not the CEO and CFO understand the basics of scalability of overheads in relation to revenues? And what is with the CEO's seemingly endless journey to break even. Heck, the Board should understand this guy believes journeys for him are meandering and open ended. Guess as long as he is gainfully employed he does not care where and how long the journey takes? Wondering if his journey ends with his retirement or resignation.
The Board must demand firm time line for break even. No ifs . Or else butts.
Small cell deployment may be speeding up.....the CFO did suggest breakeven 3 rd or 4th Qtr.
Disclosure: have lost money on the stock .... And CEO and CFO have promised breakeven before. Credibility
and execution are major issues.Hate hype about funnel and RFP's followed by failure to deliver.
The Board should insist opens reduction to match revs. These guys can be depended, it seems, to be consistent in posting losses over the past three years. Where I'd the turn around. Perpetually around the corner.Why Not get rid of those who underpromise and then underdeliver.
Obviously have lost money on the stock. But it is much more than that. Gay slipped in non recurring expenses over three quarters costing millions of dollars. ERII success depends on execution which includes profitable commercialization.
He back pedaleed the Aramco installation ( to be fair may be Rooney misled us) and hisexplanation for Conoco cancellation contradicts his own cost benefit statement. My concern: unless he objectively and quantitatively proves he Is an improvement on Rooney, he has little credibility behind him.
Specifically designed to increase the runtime and reliability while lowering operating expenditures in natural gas processing, the IsoBoost is an integrated skid-mounted solution that improves uptime, reduces operating costs, and offers a return on investment as quick as six months.
His firings and hirings of former colleagues had cost the company another 4-6 million dollars.
This guy should ONLY be compensated for providing a time delivering positive cash flow NOT for sounding like Rooney when it comes guidance: don't know when I will get there Is unjustifiable grounds for outrageous compensation. The CFO should be asked to put aside severance for Gay if he turns out to be another Rooney.
I find it devious that Rooney announced Aramco contract and now Gay makes it sound like it went into effect during his term. One of them or both wrongly taking credit. And why no repeat contracted yet?
ERII board better closely monitor CEO performance for measurable improved financial results.
Gay brushed off over 5 million dollars in legal and severance which presumably included a bonus for him?
I belive the compensation is unjustified. Better to have given all execs out of money options vesting in 2-3 years subject to delivery of profits. And to top it Gay has the temerity to say they are controlling expenses- except his own compensation of course . A 700k bonus? For what. Disgusting. Board knows how to fire. does it know how to hire? He better progress from covering his derriere to delivering profit or let's feee him to be gay on his own time. Are we entering another phase of flawed execution. Hope not for Gay's sake.
How did they outsmart a wise guy like you for $120k. Or is it because they are smart and you are just a wise guy :)) love to hear your story.
According to WSJ : Gay received compensation valued at $1 million including a salary of $262,208 in 2014, Board better insist on increased revenues and performance or send him to Follow Rooney.....into oblivion.
Cronyism? Unless he shows measurable improvement in revenues and clear time libe to break even, I urge the Board get rid of Gay. Firing Is easy but no substitute for competence. An ex CFO does not always make an effective CEO. Gay better prove himself fast or we will be demanding and reading about his resignation - forced or voluntary. It's deliver or quit time for him too.
I would favor typing errors over monumental repeated blunders with each product category since Pease became CEO. Losers focus on the trivial and forget the big picture. This guy has failed to profitably commercialize a single product. He should resign if he had any self respect. Some are just not cut out to lead.
He dies not know how to commercialize technology.Always two steps behind where the next market is.
They have been paying their salaries by raising cash at shareholder expense. CFO left. Pease, please go ? Let us get rid of dead weight and useless overheads. The Board is incompetent in steering this company. Disgraceful and disgusting. And shameful.
Gay like Rooney projects promise and then sounds fuzzy when it comes to execution tied to time lines and numbers. This from a numbers guy. It seems the whole team has to establish credibility.
Conceco cancellation being atribute to budget cuts is unconvincing. Adds to my distrust. I am waiting for concrete revenues from each product or lets find a new CEO. Enough with obfuscation while getting paid for it.
Obviously DRWI bought a low margin business and have fsiled to improve margins to break even despite repeated mukti year promises to do so. Management has done little to earn credibility. Shame on freely running the deficit funnel for over four years. Can they afford a new energetic results oriented CEO?