RE: RE: RE: plant delaysIf I had a dollar for everytime that I have read a poster say that "I am happy the stock is at or near an all-time low" or "just watch, in the next 6 to 12 months this is a 10-bagger".... well... I am sure I would have $20. People who say this are as full of crap as people who say that the sky is following. They just don't know (partially because BNC has kept investors in the dark and partially because BNC has no past track record of meeting its commitments/targets).
My advice:
1. Anyone who has been invested in this company for anytime long term has a huge likelihood of having lost over 50% of their investment (e.g., over the last 48 months, there has been less than 4 months total where the price was less than current levels). To invest more, you would really need to believe in McRae.
2. McRae should not be both CEO and Chairman of the Board. He can keep president.
3. BNC should not be leasing property from McRae. This is a distinct conflict of interest.
4. BNC should come clean on the progress of the company on all fronts. The speculation of the status and the dread of the unknown creates fear and outrage among perspective and current shareholders. In the past, McRae was just crazy (in 2003 he indicated on ROBTV that commercialization of the Ecoli vaccine was a year or two away) and he needs to avoid inaccuracies. Nevertheless, BNC can still provide shareholders with the necessary information so that they can make informed decisions. Right now it is anyone's guess where the company stands and that does not help anyone.
5. BNC should avoid giving out more performace bonuses. Shareholders have been diluted to keep these gems in the executive team. We have 14 vice-presidents/presidents.
6. McRae should apologize to all longterm shareholders. He has burned us severely. Most of us probably wish we had never heard of this company.
For the record, I still see value in the company but I would never recommend it to anyone I know. I believed in the twerp and regret it but will probably hang on to my shares. An apology from McRae and no more performance shares to the management would be a good start.