RE:RE:RE:RE:RE:RE:Advance Vote-How will you cast yours?Appreciate your reply, especially as you try to follow the facts and not just emotional frustration, as so many others at the moment. I do not concur, however, with everything you wrote.
exciting wrote: Well being a CEO means you are responsible for quite a lots in the company. Put it this way if the company is doing very well because a saleman brings in a good business ... who the investors would congratulate do you think. CEO is put it there to manage the business no matter what happens.
While this is true, it's beyond the point. I'm a manager too, responsible for global projects. If the project goes wrong, I'm the one to blame, no matter if somebody else in the team messed it up e.g. in a technical area that is far off my responsibilities and field of expertise. Still, I might not have done anything "wrong", maybe I even did a fantastic job, but I'm the overall responsible also for any mistakes happening.
Itwaru as a CEO is in a similar position. Things going wrong does not necessarily mean that he did a bad job. It's not that simple, even if people wish they could so easily define an explanation or "enemy" that "crushed their investment".
exciting wrote: 1) Great talker but say nothing meaning promised a lot and under delivered.
What did Itwaru promise and under delivered? The one thing I can remember was his statement in Jan 2017 about the "exponential growth" that was going on. As numbers showed, his statement was at that point actually true, but it also created very false expectations and he should not have made this statememt.
exciting wrote: 2) Last year when the company decide to issue new shares to raise funding. TSX has to step in to raise the SP. This means the management did not have an idea the value of the company or something else that i let you guess.
Maybe true. Well, given the stock performance, maybe now you could also say that he was actually even more realistic about the value of the company than TSX.
exciting wrote: 3) When they announced the contract with TenCent, again TSX has to step in to force the company to halt the trade and to do the announcement in the proper way. It is a good news and still someone manage to screw the whole process. To put it mildly one would call that an amateurism.
FGD had probably around two dozen press releases in 2017, all in the proper way, including the Lianlian deal. With Tencent, FGD as a pennystock managed to get a contract with one of the global Top 5 companies on this planet. This is so unusual that TSX wanted to ensure that the deal is real and wanted them to be very specific on the contents (more specific than any other press release of any other company for an average deal announcement I usually see). Is this now "amateurism" of FGD / Itwaru? Getting exceptionial deals with Lianlian and Tencent?
exciting wrote: 4) Now the revenu regconition issue that i believe is in the known for a while but management blunder again when they hired a new CFO who refused the position in less than 2 weeks.
Well, now we're back on the level of pure speculation. Why would they have known about the revenue recognition "for a while" but not have done anything about it? Does not make sense at all. The story around the CFO, however, is indeed a strange one and whatever the reason is for it, it should have been Itwaru's priority to solve this much earlier, indeed.
exciting wrote: 5) Can you believe we are almost for one f..king year without any reporting and no one dare to offer at least an semblance of explanation in order to stop the bleeding. This job fall into the hands of the CEO.
Yes, on this part I fully agree. Communication is very bad, especially given the situation we have. This is indeed something where Itwaru failed to do his job properly.