RE:RE:SP off 30%+ since Seto became CEOAccountprince wrote: Dom perhaps ask why at the annual meeting. At the start of 2020 we were at $0.80 per share and heading to $1 per share with an analyst report valuing us at $4 per share going much higher as we achieved FDA successes. Life looked pretty good, Baxter arrived and we needed to move the Tigris ahead and get some approvals for Dialco. While the meter for Tigris has only moved slightly but positively the Dialco achievement meter has moved all the way to the red zone.
Our then CFO and subsequent COO and then CEO arranged for a private placement of shares at $.60 per share preaching it was a strategic move to bring in multiple institutional investors giving us an institutional exposure with the implication of enhanced visibility. Was that achieved?
We changed up management and brought in the top guy in North America. We handed out party favors at $.47 to $.63 to all the brilliant managers and insiders responsible for our glowing successes.
So here we are sub $.50 per share. Markets down? No. Our team doesn't know how markets work? No. We haven't had any successes? Hell no.
Is the stock heavily manipulated? Yes. Is any body doing anything about it? No.
Post of the month ! Hear hear !
I am looking for some signs of a possible mandate change as a result of the changing of the guard at the CEO level. One might argue that, on paper at least, we are moving from a science driven CEO to a money/markets driven CEO. On the other hand perhaps neither could make any "exposure moves" unless at the behest of the BoD? We shall soon see if "see-to-it" Seto is his own man, and is suitably empowered... to garner some much needed market recognition, and thereby enhance shareholder value.
MM