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With the declining revenues and the shrinking backlog

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spec machine   Tuesday, 07/10/18 04:01:00 PM
Re: None
Post # of 107310 
With the declining revenues and the shrinking backlog providing almost all of the cash flow, it's not long till DPDW implodes from lack of cash and credit

Like a true novice, Smith blundered by stating in the last conf call that nearly ALL of the revenue last quarter was backlog burn (Sales/new orders near ZERO??)

Smith has killed the company and its future prospects by his mismanagement of company finances and his TOTAL cluelessness about what investors think about Deep Down Inc and his performance as CEO

The "Smith-friendly" BOD has driven the final nail in the coffin by not replacing him

but at least they told you

they called it a deliberate decision to retain certain individuals because of (a few qualitative factors)

that's the only wiggle room they have to NOT terminate Smith for a whole bunch of valid reasons that are easily quantifiable

in other words - they are avoiding professional liability for their responsibility to the shareholders in making decisions in the best interest of shareholder value

Interestingly, Smith could still save the company from certain imminent collapse if he did 2 very simple things

One of them he might do, but by itself wouldn't do it

The other, I'm pretty sure he can't figure out by himself

It would be a genius move, but he has blinders on and will almost certainly drive all of the stock, including his shares, to zero

JMHO

spec



- Foglifter -

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