Accepting your other points as ultimately, your opinion, as were my points, mine, I'd say in answer to this:
"Do you think with the recent changes there are any chances for success?"
We'd have to start by defining what success actually means, and for whom.
Do I think the company can thrive and grow? Well, first of all, let's be very clear, this is a completely new enterprise, so forget about Arknet and all that fluff.
Supposing they at least do the following, corporate structure-wise:
1) Get rid of all the baggage (I think we all know what that means and I don't mean luggage).
2) Fix the share structure because 9bn+ OS is absurd. I guess the RS and name change will take care of that. One must be cognisant though that this new SS with a 50:1 split or whatever it eventually is, will sell down immediately after (reverse splits invariably do, which is why companies that do this usually overegg the split to allow for the sp to fall to a level they're comfortable with) so, once the price has stabilised after the sell-down, then we'll have an idea what the market values the company at.
3) Appoint an independent NED (preferably a Board of, but at this stage, at least one), to represent the SH's interests and fulfill the general role of NED's which is to maximise shareholder value.
4) Provide independently audited accounts that attest to and legitimise the claimed sky-high valuation of the assets. If that's not possible to do, then realign that valuation downwards toot sweet, in order to provide confidence in the marketplace, such that this stock then becomes well, tute sweet (see what I did there) as an investment opp.
On the plus side, my view looking at the Regal asset image suite (which they've admitted needs an improved UI), they certainly do have something tangible as a product offering (assuming they have what they claim they have). But even so, it's fanciful to suggest there's $3bn + value in this, without proof and they also need to stop claiming this asset has some unique value proposition and get ready to position themselves in this highly competitive industry. On that note, Market Segmentation and Product Positioning will be key. AI is in vogue and appears to be the way to go (well at least one of the niches, I can think of several more, one of which would be an immediate and significant revenue stream). They've identified that (AI), so yes they have a chance in my view. But there's many a slip twixt the cup and the lip, so having a valuable asset and being able to monetise it, are two different animals altogether and whether they have the right team in place to match their product offering to the various and growing income stream opportunities, is key. Looking at who's now running the show, I believe they will still need to on-board appropriate talent to develop and grow these new business verticals and since Linda Yaccarino's a bit busy now, I'd say they need to get cracking on their head of Business Development (or whatever else they fancy calling her/him).
But get rid of the leeches, they don't help cure diseases they bring the patient down and the one that was on life support for the last three years needs the machine switched off!
All of course, IMO.
Cheers have a good one.
AI
