RE: This share is a complete joke14 Sep 2023 17:00
I'm quite surprised the new CEO hasn't put out any comms other than his arrival statement in the RNS.
He must be aware sentiment is at an all time low here. He must have been brought in with the express purpose of gaining traction in sales. Even just to introduce himself would be a positive thing after months and months every year of total silence from Budd. I think that's why the sp is dropping still further.
This company is in dire straits just now and I've now given up hope of there being any kind of take over. Who ever might have been interested in taking GDR on just has to sit on the sidelines now for a while to see if it can survive another few months. If sales are still non existent and the sp drops below 10p then there's no more cash and the new CEO, no matter how good his contacts, will not be able to raise a smile, let alone a couple of million cash.
I'm inclined to think it's dark times at GDR just now and suspect the axe is being wielded here, there and everywhere. they have to reduce costs and that means firing a load of staff and putting the sales team on a performance based contract (rather than £40k+ for putting up the bring-and-buy stand every couple of weeks and going out on company jollies.
I think there will be one last nasty drop, to about 8p and then finally I hope the new CEO may bring about change but it's not going to be pretty. GDR staff imho are going to be laid off thanks to Budd's ineptitude and repeated failure to sell anything.
Let's just hope it can survive the next two months and that the NICE news due in December might give at least a little uplift to the poor sp for all our sakes.