RE: RE: RE: Bridge
I got sucked in by JW(who is now in jail) and Brennan. They had Chet come down to JW's house in Naples and put on a money collecting show. Chet was a lot nicer when he needed money, but now that he has all of owes and gives himself $1 million a year for a company that has never turned a profit, he doesn't have time for the people who gave him the opportunity he has today. Back then, Chet was talking about Santa Rosa being worth $25/share and Senegal $15 per share. Unfortunately, he $40 prediction is now closer to $.40...
I will always say that Chet is a good prospector, but a terrible CEO. Being President/CEO and Chairman of the Board is a huge conflict of interest, in my opinion. Both a representative from Terranga/MDL and IAG should have representatives on our Board, but Chet prefers just to have his "yes men" that will keep their mouths shut and let Chet do what he wants to do today.
Chet keeps trying to convince us he is also a "Shareholder", but I think you have to put an * by that term as it is a bit different when he is using our money we pay him for a salary/bonuses to purchase shares at a discount and also give himself millions of warrants and options. Also, he has the inside track of what is exactly going on. Investor Relations on this company is a joke as they prefer to keep shareholders(owners) in the dark.
You all may say I am b*tchin, and I am. But if we had a CEO with a conscious, morals and ethics, who has a DUTY to do what is in the best interest of shareholders, our stock price would be higher, outstanding shares would be lower and/or the project would have been sold out now at a price higher than Chet will ever get.
I always have the option to "Sell", but after losing over $1 million on this investment, I will wait it out and as horrible a CEO Chet is, they have a lot of gold. The only way this deal doesn't get sold at a lot higher price is if Chet decides to give him and his Board members million more in options and golden parachutes.
I wish I never met JW, heard of this company, etc., but I got sucked in, just like many others. We have an excellent property, but we will never see the real value as the Chet factor is a big issue. No one should run a public company whose main goal is to "do what is in the best interest of Chet", scre*w everyone else...
You may not agree with what I say, but I don't think that anyone can disagree that everything above is true.
I hope you all have a GREAT day!!!
G1