TS03 Inc Trust Units TSTIF

RE:RE:RE:RE:RE:The importance of managing expectations

[StocksFTB]

DrWong - how can you be furious about the stock price and not furious about management? 

The stock price is a reflection of how management in executing and over time the stock price tracks fundamental improvements (or lack of improvements) at the business.  

There can be short term distortions where the market "doesn't get it", but this is not the case with this management team.  This team has simply failed to execute on many promises over a very extended period of time, with multiple partners, and also on their own. 

The stock price is sub 60 cents because prior to Getinge we were supposed to have sold 200+ units last year and 250 this year and >300 this year.  In the first year of this contract with Getinge TS03 shipped 100 units, most of which it was forced to buy back.  THIS PRODUCT IS NOT SELLING IN A MATERIAL WAY. Clearly you can see by the 4-5 units in the last quarter that this expectation has not been met.  You will blame Getinge which I understand but a proper take or pay contract would have insulated this company from this situation. 

Your argument continues to be that management can't hide behind partnerships anymore, which is true, but they are the ones who entered into the partnerships, so everything is on their watch.  Also, there is a reason most micro-cap companies utilize partners, because commercializing a product without a partner is extremely high risk, and this is now the situation we are forced into after burning our last partnership bridge. 

This management team started ramping their own sales force in Jan 2018 before the Getinge contract terminated.  Management told investors they had a sales team and were "hitting the phones aggressively" selling to hospitals in Jan 2018 months before the Getinge contract formally ternimated in August 2018.     

As an example of how bad this management team is, how can you as an investor not understand if his 200 unit goal was simply "aspirational" or guidance? 

Anyone who owns the stock today clealy should have an opinion on whether the statement made by the ceo was aspirational or factual.  If investors on this board think it was an aspirational statement and maybe he will only sell 50 units, then you are in for some serious losses. 

Do you really believe everyone is wrong?

You claim that analyst models are sloppy (that is attributable to management communication being horrendous), that institutional shareholder have sold simply because of mandate changes(many sold because they were fed up with the CEO, lack of disclosure, missed timelines and a sinking stock price), that analysts dropping coverage is not reflective of their true views(many analysts were fed up and though the strategy of commercializing without a partner was high risk)........At some point you must admit that the evidence is not in your corner.

The CEO of this company is not doing a good job, the first step is to send this message to the board by witholding your votes for him to sit on the board.  He is an employee, and should not be a voting board member.