Viscount Systems (VSYS)

[finrafriend]

The volume of selling is really peanuts. It's pretty sad when a stock can lose $500K in market cap on volume of about $2K.

There were posters who warned a year ago that a management change in itself may not have been a disaster but that the team selected had a pretty bad track record, at least for the past 15 years or so. The board sowed, now they are reaping and the rest of us shareholders are simply weeping.

We are not mislead about the prospects a year ago, just about the ability of the new CEO to deliver after the coup.

So, my biggest concern is that they have a CEO who really doesn't understand the technology or industry direction, a team with no vision or direction and a board who are probably good guys but not tech savvy and who will listen to another two years of excuses in dealing with this mess until it's too late. At least they have a new board chair and perhaps some sensibility is coming.

PS. Last year they filed their proxy on April 23 so we should know the rest of the story soon, like what kind of bonuses the CEO made to kill 80% of the market cap of the company.