RE:RE:RE:RE:RE:RE:RE:RE:It's time to protect long-term retail shareholders interest We do not have a lot of options - we need management and the board to take the needed steps. We can let our voices be heard, as we are doing, and hope our board of directors is listening, will take our complaints to heart and do the best they can to address the situation. But, the board approved this deal and they are not likely to take kindly to our criticism of it. That is just human nature. Wino has talked about the stages of grief that we are going through. The board likewise has to go through similiar stages of accountability and the first stage, like in grief, is likely denial. I don't know if they will get beyond that stage or not. I also do not know who is primarily responsible for championing this odious deal at THTX. What we do know is this company has struggled mightily to get its message across to investors where it seems most companies in the current environment have not had anywhere near as hard a time of it. So, there is clearly a weakness in that department that needs to be fixed.
I am not one who likes to advocate for anyone being fired but perhaps the board members who advocated most strongly for this deal should fall on their swords. At the staff level, we saw Jovan move onto to greener pastures following the bad Q3 sales and Paul has emphasized accountability since he took over. He first needs to acknowledge he either misled investors regarding the type of deal he was looking for or that he was overruled by the board when this deal went through. Again, I am not looking for generally nice people to lose their jobs, but at some point, if your staff is unable to perform to standards, they need to be reassigned to someplace within the company where their skill set fits better. This board has been able to easily indentify many things that could be improved upon in recent months and progress on those fronts has been slow, at best. And none of what we have suggested is rocket science - it is just basic blocking and tackling. These are not one time errors, they are repeated over and over again and it has led to our share price being left behind in one of the biggest bull markets in history. And that, in turn, led to a financiing that is among the worst I have ever seen in my career, especially under the market circumstances. As I noted last night, this financing, as a result of the inability to get investors to properly appreciate the company's very interesting prospects in a raging bull market, likely will cost investors like us literally hundreds of millions of dollars in the long run. That is hard to overlook. It shouldn't be overlooked.
It sounds like Wino is not interested in a board seat either, but I would encourage the company to invite him to a board meeting and let him give them some much needed feedback. He knows what he is talking about and knows the company really well too. It sure could not hurt and it might help a lot. He also has the advantage of being further along the stages of grief than me!
Lee430 wrote: My turn to vent….We are mostly investors here not traders who have families and bills to pay not simply faceless numbers, the employees who made this horrible deal should be held accountable for theses series of MAJOR missteps….I don’t want to sound Trumpish and suggest we show up at there front door with pitch forks demanding answers (although it did cross my mind) but this needs to be personal for them as it is for us….so my question to the highly experienced people on this board is with such a large ownership block on this board what options do we have to make sure moving forward we have confidence the correct people are running the show at Thera and out the obviously incompetent ones?
PS: I have started a couple of small business myself and as far as Molson is concerned its people who have the vision and drive to create the companies that impress me not the later generation who inherit them and usually end up bankrupting them anyway because they have no clue what it takes to start one from scratch.