RE: CEO said 500p is what it's technology worth6 May 2022 14:56
Ian's statement really concerns me. I used to like ECSC and am a long term holder but the company now can't hide their poor performance, they're loss making and have been unable to grow revenues for the last two years in a rapidly expanding market. They're the right size, apparently have the right skills and are in the right area yet are completely unable to convert that into success. If the CEO believes the company's worth £50m and is turning down offers daily, what price is he turning down? In his eyes £20m would be underselling the company but to investors that's a 4x return. Regarding their tech IP, I'm utterly unconvinced that they've developed proprietary AI. The best AI researchers make £1m+ per year which ECSC clearly aren't paying plus they haven't demonstrated their AI to investors which is a red flag in itself. Ultimately I think they're using buzzwords to appear more advanced than they are. At this point I think Ian's got too much personal attachment to the business and isn't looking out for shareholders best interests.