RE:EVERYONE AGREES JC AND MIRON WERE A PROBLEM
Munger wrote: Sextants buds. They are gone now. Can someone please explain what has changed re company fundamentals? Did they lose the patents? Did Bertrand purposely sabotage his career by creating a bogus company? What is our cash burn rate monthly? Not having patents we were valued over 10 cents. Now we have patents and the bad actors are gone and this is all bad news? What was that cash burn rate again? That being said. No excuse for no insider buying for all this time
the problem is no more money and managment has no way to raise more. So we are stuck now . Only option is to sell assets, and I can promise you managment isn't buying any shares, not now not ever. The new risk now is does managment have the abilty or desire to sell the assets to make investors whole. I have my doubts. Samson might be our only chance now. I think he can do it if he puts in the work.