Those funsters in the Dubber mgmt team are up for another giggle at their own expense as CEO Steve McGowan sweats through another shareholder grilling - on Zoom tomorrow at 11am.

Expect questions on why Steve took a total compensation, including equity of $2.7m in 2022. At least it was down from $3.8m in 2021, and less than the COO's $4m+ in 2022.

Lucky (or perhaps inevitably) mgmt don't own a significant %age of the shares outstanding, except for the ~$10m p.a. in equity they've been giving themselves in recent years.

Details here: https://newswire.iguana2.com/af5f4d73c1a54a33/dub.asx/3A613928/DUB_Investor_Webinar

Enjoy

Management continue to baffle with today's announcement that they are restructuring with "$5 million in savings per quarter without impacting the Company’s revenue growth potential or customer service".

If they can save $20m p.a. (20% of FY22 Opex) with no impact on growth or customer service:

1) What will it impact?

2) Why didn't they do this earlier?

3) Why do they have so much fat to cut when they were losing so much money (FY22 NPAT loss of $47.8m)?

A more sensible restructure would have been to replace the management team that got Dubber into this mess in the first place.

They seem to have learned nothing in the last 12 months as their share price fell 80% (90%+ over 18 months) - what could the market be trying to tell them I wonder ...

Too much bluster, not enough substance, management credibility will be slow to recover from here, if ever.

Disc: Not Held

I attended the DUB Webinar at the NWR conference yesterday (2-Aug-21) and when asked Steve (CEO) said they wanted to include a SPP as part of the $110m Cap Raise but since they had a SPP in the most recent SPP and this was < 1 year ago, they were prevented from doing so by the ASX listing rules.

He seemed genuine about wanting to offer a SPP but not being allowed to and I have no reason to doubt this.

I've not heard of this listing rule before and have not validated it but it would not surprise me if the ASX restricted 'unsophisticated' shareholders from being repeatedly hit up for capital via SPP's.  It's OK for the insto's to more frequently tip in capital because they're professionals (it's not their money)...