Spectral Medical Inc T.EDT

"we believe" you can not do your job.

[hmmmmmmmm]

Spectral's one job is to get PMX through the Tigris trial to FDA aprroval so it can be sold in the US. Remember, Spectral did not invent PMX- they exisit to get FDA approval for PMX.

Now, Seto and Kellum want to hire another company to do that job. Their job.

LET THAT SINK IN.

It has been clear to  many of us- for years- that they could not do their job. Averaging just over 1 patient per month at almost 1 million a month was clearly untenable. So Seto and Kellum's big solution is to hire someone else to do their job.

Does the board expect shareholders to pay the new company and the current company to do the same job?

It only took years, tens of millions of shareholders investments, and mass dilution for them to realize? admit? that they were failing at their job.

To think- just in January Kellum said: "As result, we added approximately 30% of our total enrollment target in the second half of 2022 alone. "  How misleading of a statement was that?

How about this doozy- "The Company has scheduled an in-person investigator meeting for mid-May 2023.  This represents the first in-person investigator meeting since August 2019,"

We've been phoning it in since 2019 and we just don't understand why those hospitals aren't enrolling our trial for us..  

It's bush league, Investors deserve SO MUCH more for almost a million dollars a month.

The BoD nedds to step in.

We've been begging them for years to hire someone who can get trial results. If it's an outside company- fine, but that makes Seto and Kellum completely redundant, and very expensive for zero add.
Not to mention they've lost shareholder trust and confidence, are terrible at IR/ PR and Seto has been beyond awful at raising money- and this next round will be ugly.

What a terrible annual update..

[Accountprince]

Based on this news release I agree with you.  They have no clue or ability. Fire Seto, hire a competent CRO and have Kellum around for his knowledge and reputation.  Get the trial done!!! No further options and no change to the PSU's  Enough gifts for zero in return.

[Accountprince]

Further comment...Seto must be fired for cause.  Evidently, based on the latest facts in the release...previous releases were false and misleading.  Repeated forecasts of what was to happen under his stewardship were false and misleading.  The lack of disclosure now appears to be more of a cover up than anything else.  If the BOD doesn't see this they all need to go. 

[hmmmmmmmm]

We promoted an accountant when we needed a strong Trial Director with years of experience with both hospitals and leading a teams. Fine, a mis-step. Turn the page and bring someone on with the expertise to get the trial done! PMX is too valuable as a commodity and as a medical tool to be tripped up by a staffing mismanagement like this.

[Accountprince]

The December 31, 2022 financial statements now characterize Dialco as a "discontinued operation" with a grand total loss from discontinuance in 2022 of $3,356,000 of a total loss for the year of $11,250,000 or 33% of the FULL ANNUAL LOSS!!!!! How does that square with Seto  and co telling everyone ITS NOT MATERIAL so no details.  That's like saying the Ukraine war is not

[hmmmmmmmm]

You are 100% correct- and those are their own numbers to prove it. 100% material. They knew it and lied about it anyway.  The email that was posted on here from the CFO showed a complete disrespect and disregard for shareholders. But it was stiil more than Seto- who couldn't muster the guts to respond. Enough, enough, enough.

[Accountprince]

If I remember correctly they left the "It's not material so we aren't going to tell you anything more" December 2022 position with a hint they may tell more when the year end is released in late March 2023. They knew it was material but chose to wait 3 months until it had to be revealed - look at the December 31 2022 audited financial statements.  If something is not