MIND Technology, Inc. (NASDAQ:MIND) Q3 2024 Earnings Call Transcript

Rob Capps: Ross, I understand all your comments. Believe me. Nothing is news to me on this side. I understand completely.

Ross Taylor: It’s not news, but, I mean, to be honest, and the idea that you drop the comment, you haven’t made a decision and you drop it with two weeks left in the year is just, Rob, we’ve talked and I’ve known you for a long time and I’ve been a real loyal shareholder. But you know how frustrating it is to watch, you basically come in and do something like this with two weeks left in the year because it just sets — it sets you back so much more than potential loss of one quarter’s dividend. It sets you back to where you all the street cred you’re building is going to have to restart. And I think the Board needs to recognize that. You got cash and you got stuff coming on and your credibility as a public company — I mean, it’s one thing if you’re private, but you’re public.

So, you have a duty to your shareholders. And I think that duty — I’d rather see you issue equity to loop me a little bit on it — to loop me on equity even heavily because getting rid of that preferred particularly can get rid of it at $10 or $12 a share if you can buy back, that’s a huge win for us shareholders. So, we’ve got to be thinking about the game plan, okay? I know this isn’t a happy conversation, but I’m not happy with the way this is falling together. So, I feel like we’re right back where we were a year or two ago except for we thought we were so much better.

Rob Capps: Okay.

Ross Taylor: Thank you.

Rob Capps: All right. I appreciate the comments, Ross.

Ross Taylor: And give Tyson a call about the ATM if you don’t pay the dividend. I think he’d love the business.

Operator: Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I’ll turn the floor back to management for any final comments.

Rob Capps: All right. Thanks, everyone, for joining us today. I look forward to talking to you at the end of our fourth quarter. Thanks very much.

Operator: Thank you. This concludes today’s conference call. You may disconnect your lines at this time. Thank you for your participation.