Post by
littlerichard48 on Nov 19, 2012 9:25pm
Current Affairs
I have been a shareholder in Medipattern for years and have watched our company continue to fail quarter after quarter and year after year. My original investment which was substantial is now worth almost nothing. B CAD, Vascular Visualize and now a product called MYTRAK/Smart Coach that cannot be found on a shelf in a Target store in the US. Some very bad decisions have been made by our leaders which cannot be specifically blamed on Jeff Colins as he is controlled by our board. Now we seek an additional million bucks to keep the company a float and conditions state that the investment must be paid back within the year with interest first. I particularly like the condition that they may appoint two directors to the board. The later may be a good thing as the two new directors will perhaps know something of business and that for business to succeed, they must make money. I now have really no choice to stay in the stock as a loss is a loss and maybe the tooth fairy will come. I believe the only way for this company to survive is for our leadership to communicate fully with the shareholders describing the challenges that have impaired the companies success and what they are going to do about it. The only thing that I have seen that may be of relevance in the recent trades in that Scotia McLeod is accumulating shares and if you read the historical background of one of our leaders this may be of some positive note. Lets hope the next announcement is either that they achieved 10,000 scans last month or at least some honesty on what is going on with our product. Our stock is now 8.5 cents and down 15% with the worst yet to come in tax loss selling if anybody were to buy.