Why does Smartmetric's CEO give his shareholders NO, repeat NO, guidance ? SMME
Guidance, in Australia, is that which a listed company MUST give its shareholders and the
market to guide them in their understanding of the company's current position and of its
PROSPECTS in the short, medium or long term. In the case of SmartMetric, Inc all we get
is a misspelled puff piece occasionally which details the "gunners" : we're gunner do this or we're gunner do that. We never hear what has actually been done to sell the
product or the results and reasons for failure to sell. Our question is, what are his obligations in the good ol' US of A ?
Answers
788 points
DaveDiggz answered 6 months ago …
Companies are NOT obligated to give guidance in the US of A - in fact, there are plenty of companies that don't: IDT, Berkshire Hathaway (Warren Buffett's company) and many more. Guidance is a double edged sword - while it's helpful to get a peek behind the curtains it also forces the company to make stupid short term decisions to insure that guidance is met.
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