Balancing Sentiment11 Nov 2020 16:58
I do read the comments, and as a CEO a lot longer than 20 years, I understand the value of support from all stakeholders. There is no doubt, when my career is built on turning around companies with failed or failing business models, many long term shareholders will be aggrieved at their loss, but I have to look past that and save the Company that has been inherited. That was done with my private businesses and when it comes to public companies, like Integumen and Modern Water, no funds, massive debt, under exploited assets and an incorrect business model. Sadly many, many millions of pounds lost.
That is my starting point. I kept the name Integumen to show it was turned around, and changed it only when that job was done. Turning a company around takes time, and I can't address issues with short term traders when the project can take up to 2 years, and in between highs and lows in the publicly traded shares will see short term winners and losers, but long term the risks are high at the outset and lower when the company not only survives, but thrives.
Just like Integumen, Modern Water was in a bad condition when we took it over, with a business model that was not viable. The Monitoring division was the uncut diamond, just like Labskin was in Integumen, forgotten and ignored. I have clearly laid out the strategy of the enlarged entity, collaborate, cooperate, integrate and then own, control and dominate the market into where you sell your enhanced technology.
Top of Page 93 of the Offer Exemption Document has the following statement:
17. Working Capital: In DeepVerge’s opinion, the working capital available to the Enlarged Group is sufficient for the Enlarged Group’s present requirements (that is for at least 12 months following the date of this Document)
To suggest otherwise is disingenuous and I have called on those who make such statements to read public documents first, before making off the cuff remarks to the contrary.
Lastly, I do not have any issue whatsoever with comments, complaints, suggestions and make it my responsibility to be open with all our shareholders. I will continue to do so, in between Zoom meetings as I have done since I joined Twitter in 2009, long before DeepVerge, Modern Water or any other companies I am involved in. There are some wonderful people in this group of companies and while you may easily insult me, have a little respect for their effort to build a company for the social good, as well as for the benefit of all stakeholders.