NXO has always been superb at creating an exciting story that captures the imagination and great at hyping the stock. Unfortunately, what they consistently deliver is a big zero.
Management gets free shares and cheap warrants, warrants get repriced to make sure important investors and insiders are kept happy and rich, while faithful retail investors (aka the Muppets) are left holding the bag. This is the sad part: The people responsible for the failures, losses, and pain don’t suffer consequences. It’s the retail investor that always pays for it all.
Here are just a few promotions from 2017 designed to pump up the investors. Those who have been around a while will remember these promotions. Paul McKenzie (NXO founder & CEO in 2017 and NXO CEO today) Stephen Petranek (NXO director in 2017 and NXO director today) are hyping the NXO lens technology. While watching these stories, remember that this lens technology earned zero revenue, was discredited as impractical, and written off as worthless.
BTV (first 5 minutes is about NXO):
Couple of stories on Global News:
The above are just few examples. Watching these “stories”, don’t you want to invest in this technology? Aren’t they great a creating hype? Greatest breakthrough in the field of optics since Galileo! Wow!!! Amazing!!! Don’t you want to buy the stock? Then 2 years of waiting for some sort of contract with cell phone manufacturers that never came and stock down by 90%.
Still not convinced? Have a look at this interview with Paul McKenzie in 2019 on a German investor show pumping the stock. This time he is talking about DoubleTake. The whole thing is over 20 minutes, but one interesting point: At around 4 minutes and 30 seconds Paul talks about schedule. He says they want it manufactured and available to consumers by Christmas. Remember, this was in 2019, before COVID ever became an issue. Also remember that to this day DoubleTake has not sold a single unit. Here is the video:
The above is just a small sample of the hype this company created, and these guys (minus Daugelas) are still running the company today. It is important not to forget history. To assume that “this time it’s different” is a dangerous assumption. A good story is the only thing NXO has ever produced, and their stock is the only thing they ever sold. It may seem a harsh assessment, but this is a fact…not an opinion.
No matter how the current story with ALIIS plays out, at least let us all agree that there are reasons for concern. It's OK to be optimistic and hold a few shares as a bet, but to be so arrogant as to dismiss any skepticism is just foolish.