… it sure doesn’t seem like their current CEO can.
T
oday, the struggling software company fell even further towards irrelevance as shares fell by approximately 50%. The company, it seems, was unable to close on an announced $30 million share placement and was in urgent need of operating capital. The story was reported in the New Zealand Herald and can be seen HERE.
The highlights of the story, though, are summed up by the following quote from Milford Asset Management executive director Brian Gaynor…
“They’ve handled things pretty badly. They said they had done a capital raise when they hadn’t completed it which you shouldn’t do, and then they had an issue with one or two of the contracts not being completely signed off.”
This followed the release of its full year result yesterday, posting a loss of $44 million – double its previous year loss of $22 million – and last November’s rather classless press piece within hours of the Paris terror attacks.
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(NOTE: Crime Tech Solutions is an Austin, TX based provider of crime and fraud analytics software for commercial and law enforcement groups. We proudly support the Association of Certified Fraud Examiners (ACFE), International Association of Chiefs of Police (IACP), Association of Law Enforcement Intelligence Units (LEIU) and International Association of Crime Analysts (IACA). Our offerings include sophisticated link analysis software, comprehensive crime mapping and predictive policing, and criminal intelligence database management systems.)