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The interaction of the Chairman with shareholders is indeed most welcome.

The central issue has not been addressed and that is the competence (or rather incompetence) of the Executive. The latest sales fiasco is only part of a long list of failures - many of which have been mentioned on this board. There have been a number of changes of strategy and the Executive have consistently failed to deliver on all of them. This is not a short term aberration but is 14 years of failure. I am not sure that there is an Executive team who have been indulged over so many years of incompetence.

Is this the worst Executive on AIM? Discuss..........

Paul I agree with much of what you have said. However, I think that it is important to go back to what we were told earlier and compare it with what has actually happened.

In the investor presentation dated October 2018, which is on the company website, we were told under the headline sales momentum is now building ‘Monitoring revenue is growing at over 20% p.a. with a maintained gross margin of 50% and in Gibraltar revenue has been received under an Advance Work Contract’. What actually happened was a collapse in revenues of 30% and they lost Gibraltar. On the back of this and similar statements by the CEO the company raised funds at 11p. The CEO has not changed despite the years of failure. None of this is the fault of the new Chairman he is clearly having an impact. However, I am mystified why the new Chairman has not cleared out the failures of the past. Then we could move forward with more confidence.

This could be a world beating company but the changes need to go further and should include excising previous failures.

There have been many changes of the MW NXD team over the years with no noticeable improvement in performance. I have already made clear that I welcome the current new teams start and I look forward to their ideas being converted into sales. However, although NXDs set the tone, companies are run by the management team. Unfortunately the MW management team is headed by the same person who has overseen the debacle over many years and many of us on this board will have doubts about the underlying performance until the management team is refreshed.

This is the same management team that have driven the SP from 119p to 1.75p, who failed to land Gib, who have failed to capitalise on world beating technology, have burned through £50m, who bought the company to the edge of insolvency (and liquidated 2 of the main subsidiaries), have just produced a collapse in sales so bad that you have to go back to 2011 to find worse results and severely diluted long term shareholders without giving them the opportunity to participate in the 0.5p fund raise. So that is why there are so many of us who are deeply unhappy that the same team who have presided over this shambles is still in place.

The debacle over the late, late announcement of the deferment of the 2019 results and the 2019 results on the company’s website actually being the 2018 results suggests that the carelessness attitude continues.

To give you an idea how bad these results are you have to go back to 2011 for sales to be significantly lower than the 2019 figures.

According to the MW website the 2019 results are out. However, when you click through the results are actually for 2018.

So, a last minute delay to the results announced at the very, very last moment, an incorrect website and terrible figures (albeit as the Chairman rightly says largely historic). Hardly instills confidence that this really is a company turnaround.

Sales seem to be the key figure here. I was expecting the figures to be bad, perhaps below the target growth rate - but not as bad as they are. Whilst there may be a couple of new NXDs, which is good news, the rest of the senior management team are the same now as they were then.
There needs to be some seriously good news when the full results are published or wholesale management changes are required. A management team that have chased the SP down from 119p to 1.75p have nowhere to hide.

I think that the SP weakness is a result of a number of factors;
1. An overhang of shares from the rights.
2. The long history of failure of management to successfully commercialise great technology. Whilst there has been NXD change the culprits are still there.
3. Blatant ramping for many years such that when there really is good news it gets overlooked. On occasions those posting now were rampers when the SP was 50p.
There is a real credibility issue and that will not be resolved until we see more orders coming in. Today was a good start. Lets see what the results are before we assess if there has been tangible improvement.

The company has inferred on a number of occasions that the tech is available and ready to go. However, Gidget your careful analysis of the actually wording sets out the issue. Perhaps they are only at the stage of numerous other organisations who are looking to test for Covid in waste water. If that was the case then the company would have some pretty serious questions to answer. Let us hope that the development is as far advanced as has been inferred.

Certainly good news. We know they have lots of great tech - their problem has always been selling it.
Lets hope that the full year figures show that sales have turned round

I am interested in your view that this is proven tech. As far as I am aware the tech has not been subject to a full trial far less been sold. I am aware that this may be wrong and would like to be disabused.

In fairness to closet trader there have been an astonishing number of changes in strategy and, for the uninitiated, it is not that easy to keep up - particularly as the website is very out of date and frequently gives a totally misleading view of the business.
Addressing the points on the RNS;
- it is not focussing solely on the Membrane activities
- management failed to sell MWI
- MWS ran out of money and was liquidated. MWS was responsible for the Gib contract and according to the company that contract (£25m) was lost
- the 'new' strategy of focusing solely on membranes was abandoned.
- the restructured business referred to looks completely different to the current business.

With the constant flip flopping it really is difficult for a new/prospective investor to keep up. The input from the Chairman on this and other boards is welcome but does not make up for a website that is completely outdated although this apparently will be revised. The BoD has changed but the management team responsible for the failure of Gib, lack of sales growth for years, the failure to sell MWI and getting to a whisker from running out of cash remain.
Lots of opportunities and great technology but there remain fundamental problems. If they sort these problems then IMHO this should soar.

Looking through your previous posts it is is very clear that you are just stupid

This company has had so many false dawns. Throughout all this there has been one consistent point - a total inability to sell the technology, however good. Until the management team either deliver (lets see the forthcoming results to see) or if they do not deliver then they are replaced with a management team who can, then this company will never break out and realise its potential.

12m ago
16:28
Johnson suggests sewage testing could be used to monitor coronavirus
Johnson says, if Covid is detected in the water supply of a town (presumably he means in the sewage), new restrictions could be imposed locally.

BtB - congratulations on getting in at this price rather than when riddler was recommending at 50p when you would have lost circa 97% of your money.

Well done to all those who avoided riddlers advice to fill your boots when the SP was 50p!

The annual results must be out shortly. Lets hope that there is an uptake in sales - this is the only number that really matters after years of failure. Indications are that sales are up 47% - lets see if that is true or if there will be another year of failure.

Munchbox the company ran out of money and were forced to liquidate 2 main subsidiaries. At the time (Aug 2019)the company made the following announcement - ' Given the liquidation of Modern Water Services Limited, the contracts previously held by this entity will no longer be carried out, including the joint venture agreement with Northumbrian Water for the Gibraltar Wastewater Project'
Unfortunately the same management team (but largely different BoD) are still around. The concern that a number of us have is that until the executive team are improved/changed that the company will struggle to capitalise on the technology, which is undoubtedly strong.

Randommat that is certainly true. However, what I cannot accept is that riddler sets himself up as some form of investment guru when in reality his advice has been absolutely shocking. Sadly his last post was just more of the same. He seems to have forgotten that he was pushing this stock at 50p.

This was indeed over 50p based on some very promising technology. However, management seemed incapable of commercialising it. Although BoD have changed the core management team remain therefore deep concerns that they can create value after years of destroying it.
We will see if there has been a significant improvement in sales when the results are out. If not lets hope for a clear out and a new effective management team.
With riddler and his mates constantly ramping this share there have been many false dawns for the SP. If you had followed his advice and self promotion you would have lost 98%.