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Earth | Being the first to market doesn't always mean you are the best. In fact there are dozens of examples of others coming along & "building better mouse traps" than the originators of products. Big deal that BEELINE were "the first in the world to commercialise integrated 2cm RTK autosteer with a long term global OEM relationship with a key machinery manufacturer" - there are plenty of others who have since done the same and been much more successful at it. Claims of a predicted 70% market share are worth nothing when you don't even have a marketable product yet. I read the press release & it reeked of the typical bull**** that comes out of Peter Williams' mouth when he's trying to impress people - no doubt the 70% market share claim came from him as well. One thing I found interesting was the proud proclamation that BEELINE actually turned a profit for the first time last year - what about all the previous years & the tens of millions of venture capital dollars that went down the toilet? No mention of that. I'd be surprised if the $21 million sale price gets investors even a 50 cents on the dollar return. Their exit strategy was always to either list or sell BEELINE, so I suspect that taking a hit & selling it for $21 million was a more palatable option than closing the doors. BTW - have you looked at BEELINEs website lately? Lots of *claims* of providing products & services to markets other than ag, but no actual product details. What does that tell you? | |
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Hemisphere & Beeline
