RE: Resolution to vote CEO out13 Sep 2022 12:57
Nissan - thanks for spotting that. If you listen to David Budd just after 26 mins 18secs you’ll hear him say, just after a monthly cash burn off £480k has been confirmed, that extra plans and resources will be put in place to make the sales plan for AIHL in Europe more aggressive. I wonder how much extra this has cost and, given we’ve still not been tops anything about any sales, this has ended up being money down the drain? From shoot 24mins e we are told that’oveview updates’ will be given over the next few months. We’ve not had a single one of these. Again I’m being pretty pessimistic but I’m guessing it’s because there’s nothing particularly exciting to say ie er…we still haven’t sold anything.
I honestly thought that presentation was good at the time but, as others have alluded to already, Budd is notorious for both missing deadlines or just not bothering to deliver an update at all if he decides there’s nothing good to say. This is turning into a bit of a disaster now. I would imagine the sources of funding attracted by Budd over the last three years must be getting pretty fed up with zero sales results every six months. Better off Budd just tells us straight now as to how bad things are now so people can make informed decisions on what to do with their investments.