RE:RE:RE:RE:Lack of Updates Resverlogix and ZenithHi again aclcmc. This is my second reply because your posting got me thinking again about what it is saying and here are some of my thoughts (don't really know if they will help readers perspectives but if not just hit the skip button).
- So first of all it is a good signal that you received a courteous and clear reply. That is reassuring.
- We at least know something even though the financing component is non-committal.
- The fact that Don brought in a science person (as opposed to a business person) is a clear signal that Zenith does not have it's scientific assets together even though Don continuously claims the epigenetics at Zenith are 6 to 7 years advanced compared to competitors. Let's face it, the IPO market in this area has been hot for 3 years and Don couldn't get it done. The implication is clear.
- By bringing in a science oriented CEO it implies that DON new full well that the "scientific house" was not in order back in June or July 2014 long before the AGMs. Of course, there are only so many challenges one CEO can handle and Don had his hands full since ASSURE (and did a good job).
- The about face on ZEN3365 confirms this.
- The fact that Arthur Higgins (Blackstone or Blackburn) was brought on to the board to provide guidance to the spinco resulting in Zenith and left the board when complete suggested to me that he got the inside view of the Zenith assets and saw no value for him. Of course this could be due to Eastren and NGN and not the epigenetic platforms.
- Given the hiring of high paid science people, the opening the Sanfran Cisco office and many other signals implies that Don and the Board know how they are going to finance this. That is good news because it implies they are not completely shooting from the hip.
- This also implies that the scientific team can get the science cleaned up and keep it moving.
- Dr Cherrington could have been given the CEO title in order to attract her to Zenith (let's face it, it is a big step down from BP) and also to give her the status required to be able to meet with BP and scientific peers (this is standard in many businesses). I'm sure she deserves it and time will tell.
- The comment about referring to website in the future for information is welcome IF they really keep it up to date as opposed to using it as a fortress (which is standard for many companies esp those that do not understand or respect their shareholders - by the way, I wonder if any comments even trickle up to the board level, or, if as usual the ceiling is in the C-suite - LOL).
- Referring to the website for information is also a way of saying "don't call us"! We'll tell you what we want and when we want to tell you.
- We, shareholders in Zenith (a quasi private company), are all stakeholders. If you take out Eastern at 15,000,000 and NGN at 8,000,000 and Don and his gang say even at 7,000,000 THEN there are still possibly 50,000,000 shares owned by a variety of shareholders from people that are long, brokerages, day traders (although the volumes are low) etc. We should not hesitate for one second on holding the Board and Dr Cherrington to account and should not hold back on our constructive criticisms.
Anyway, I must be either optimistic (or nuts) but I haven't sold any of my Zenith shares at this stage.
GLTA and on my cynical POVs I'd love to be PMW (prove me wrong).
Cheers
Toinv :)