Speedometer
I have been following this for quite some time and it is really getting juicy. I would argue the point of 1time being in financial poo-poo. The stock exchange has strict entry regulations and 1time's financials will be subject to close scrutiny. Believe me, when we listed there were a lot of due diligence audits. The recent investor also would not throw good money if they do not believe in 1time's future. What is happening here i suspect is 1time recapitalizing itself to fund future (or even past) growth. I am not convinced that they will expand aggressively but suspect that possibly they will upgrade the fleet or consolidate the operations in general. We were astonished by their growth and my chums at 1time acknowledge that there are some growing pains but that is just part of the territory. Ok, so mr O seems to be a bit tight (maybe he has SSS) but that is what a business needs in a competitive environment with volatile business drivers like fuel. When Mr O worked for us he was highly respected and the guys were very emotive when he left. Why does the happy guys at 1time not air their opinions - that includes you Mr F.
I agree with your statement....to be able to list on the JSE as 1Time is planning to do means that the company is financially sound but needs a "capital injection" to fund further expansion...maybe this is why the impression of under payment/over-worked/no bonuses etc is managements way of trying to get the financial statements "over the top" so as to qualify for JSE listing.