RE:RE:RE:RE:RE:RE:Something is wrongIs that actually true that the CEO Proctor, retired on full pension from the military, making $400k as CEO, owns ZERO shares of MTLO???
Hopefully that is hyperbole. Hopefully he owns a million plus sharea.
However, if he owns zero shares other than freebie options for being on the board and has not purchased any shares with his high salary, then that alone says it all.
In all my experience with venture companies be they private or public, it is a given, a given that the CEO is heavily invested in his company.
For Proctor to own no shares, that signifies that he sees no hope for the company, that he is an administrator, not an entrepreneur.
The last person MTLO needs at the helm is an administrator. Administrators, as in the military and government, get a budget. They do not have any need to worry about generating revenue, that is someone else's job, as in the Department of Finance. Administrators think about SPENDING the budget because the maxim is "use it or lose it". Years of being in that environment shapes ones thinking.
That past experience would explain why he does not own shares. He is not a risk taker, not a builder, not a marketer. He is an administrator.
So for the roll out of the covid vaccines, someone like that would be great. But as CEO of a high growth company in a rapidly growing company in a rapidly growning competitive industry, we need someone who knows how to work both sides of the ledger: revenue generation and expenditure.
Proctor himself must be feeling the angst after his positive self assessment of the Q2 performance blew up in his face with an immediate market cap reduction in the millions. No sizzle here. No excitement generated. To the Board: its time you earned your fees and options: Show leadership and act. The company urgently needs new entrepreneurial, marketing oriented leadership to keep existing clients and to quickly grow before someone else jumps in to eat our lunch.
That story about MTLO knowing about the Microsoft impact before Microsoft should have been on CNBC, BNN, Reuters, Bloomberg but as an administrator, one does not even think of such opportunities needing IMMEDIATE proactive action!