Misleading Public & Investors26 Nov 2021 13:31
It is amazing how Tungsten can get away every quarter, every year, with so much vapour, smoke and mirrors, and not deliver anything they claim.
I have been following this company for over a few years, and although they always blamed CEOs before, one has to take notice of their forecast promises and lies about the numbers. Last year’s RNS promised £4m savings due to restructure, where is it this year? With their promised growth (double digit), EBIDA should be double by now. For the past two years their promised double digit growth that never materialised, it was barely 1% on average.
There is no one there who knows the business, their Sales team has been restructured numerous times, while the FInance team dropped 3 CFOs due to incompetence. But only to get back one of those completely lost CFOs (currently “in charge”) when last CEO was fired. The incompetence of the CFO is very clear with fake promises to the public and investor meetings, and us investors.
This cannot go on anymore, consequences need to be paid for, and unless there is another reshuffle especially in Finance, this share price and the company will collapse.
Hopefully the Board and Tony Bromovsky will action this asap.