Paul, Mark,
Allow me to join in with your frustrations and throw in my two cents if you may.
The way I see it, IMG is loaded with potential, in terms of products and patents. The problem with it is that it has been run like a research company with a mad scientist mentality. A rabbit is pulled out of the hat at the most amazing time, only to be tossed at the audience. The company has never had the benefit of proper corporate management, or marketing focus. In my book, the best thing that has happened to it is Rosner's departure. This is not to take any credit from the gentleman as a scientist. But as a manager, well...
While all of this has the share price vulnerable to shareholder fatigue, it leaves the new manager with an oportunity to transform the company beyond recognition. Let's not forget that this is a company with US$100m in revenues. Larger than any other in the field. It is a company that has attempted products and acumulated experience in every aspect of superconductivity. All management needs to do, is gear its focus away from commodity products like FRIGG and focus on restructring its marketing on the higher margin knowhow it posesses. AMSC, MXWL are prime examples of what can be done. To a lesser extent SCON and even ISCO have something to offer (I know, I know, ISCO? Yes there is a prime example of how you can be sooooo good technicaly and shoot your self in the foot because you don't know a thing about how to raise your funding).
It should not be difficult for decent management to produce some EPS out of $100m in revenues. If this management can't then someone else will step in to devour this company and do something with it.
For myself, am going to wait and see. This is no invitation for anyone else do the same. |
