GrahamB wrote: To the long-term realists,Reno, Milman, JAGPUG,BigMac, Borat and those that are still interested in this company, following along now, really is now more for entertainment, and also about lessons about what can go wrong when you invest in small caps, and how you can become a better investor in the future. Again all in my opinion, and I am an idioit, so do not trust what I say, do your own due diligence.
I think it is very interesting, that that what is happening between the board members, where we have on one side some of the founders ,Durcaz and Zeehan pitted against the CEO Dr B, Goldberg and others.
It is interesting that this group which were what United now are fighting over this company.
Remember, they have a class A bcontrolling shares , but it would be interesting to do a deeper dive and see whether or not retail investors now could impact this company, given that these guys will now have to split their votes.
That would be fun.
I think it would be a stretch, but if any but here is interested, we could do a deep dive on the numbers to see whether or not there is a possibility to actually affect change.
In any event, you have to wonder whether or not AD and his first Republic group, really are going to provide any benefit to this company.
This is what they list on the website as the road forward:
Back To Success:
"If elected at the upcoming shareholder meeting on May 14, 2021, our nominees hope to restore FSD by:
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acquiring biotechnology assets focused on legal medical cannabis and/or legal psychedelics to increase the Company’s drug development pipeline and reduce reliance on a single compound;
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auditing the Company’s current Phase 2 clinical trial to determine its current viability and better understand the risks and costs so that appropriate budgets can be created and followed and to determine whether it should be continued;
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implementing a strong financial and corporate governance framework so that directors and management are restricted in granting compensation to themselves at levels higher than industry standards;
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implementing audits of prior compensation and expenses incurred by the Company; and
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developing a robust investor relations function to better communicate FSD’s value to the investment community". Source Restorefsd
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I posted on the fact that it is i ironic that they are now saying that the current phase 2 program, Should be evaluated to see whether or not it should be continued. The viability of this program from the beginning, was hugely in question, given tha PEA is an over-the-counter nutraceutical, is been around for a long time, and the business and pharmacology model never made sense in my view.
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Now they have spun their wheels for over a couple years on this project have wasted money, Are to be unlikely to be successful at this trial, and this will likely be a write off.
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So what they going to do now?
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This part here should give people significant pause, IMO;
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“acquiring biotechnology assets focused on legal medical cannabis and/or legal psychedelics to increase the Company’s drug development pipeline and reduce reliance on a single compound”
Note that the first Republic group already are invested into this area, and the possibility of them investing the remaining funds, if any, into a company where they already have a vested interest, is once again another related party transaction, which could provide them financial incentive.
Tell us guys-you going to sell teh PEA assett and invest in TRIP.....
Lets see this isnt viable anymore (like cannabis ...)
I am not saying that I support Dr. B, and his crew, for the incredible destruction of value that has occurred over the past few years, the dilution, the rewarding themselves with pay as I posted in the past,
It is really not clear if anyone can provide a path forward. But, if they do want to get shareholder’s on board, they better have a significantly better business proposal,Be transparent, and stop rewardingg themselves as they have in the past.
I dont know lets just sell it all, have another pub night where we can all get a pair of socks and ring the bell...