RE:Big Bad 3DBTruhlik wrote: People blame the Daugela brothers for taking over 40 million NXO share for useless technology. It’s true, their technology never sold and ended up written off, but can we really blame them for taking 40 million free shares? Really, who would say no to such a deal? But how about blaming the fool who gave it to them? For that you can thank the current head of Nexoptic, Paul Mckenzie: He was the CEO then and he is the CEO now.
Was Paul fooled just like us investors? Maybe, but he should have known better. The CEO of Nexoptic, being the company buying Spectrum and its lens technology, would have access to all the technical details, the test data, and would have the right to get expert opinions on the viability of this technology. They would have the right to all the information for careful due diligence, so they should have known what they were buying. Retail investors on the other hand only had a single picture of the moon and management’s assessment that this is the greatest advancement in optics since Galileo. Remember Paul Mckenzie and Stephen Petranek going on television, promoting their revolutionary lens technology that was going to disrupt the optics industry? Did they do their due diligence or did they not care because the story was so great? The fact that neither of the “inventors” had any education or prior experience related to optics should have been a red flag to carefully look at what is being sold. Did they really do proper evaluation of the technology before handing over 40 million shares?
So, as we watch 3DB dump millions of shares and NXO stock price hitting 52 week lows, be sure to remember who willingly gave them these shares.
True, if someone is to blame is Paul. He should not be on the stock market with a company w/o product for/in sale. And Paul was the person who during the last 5 years as president and CEO did not achieve anything and failed us the shareholders. This disingenious fox is always hiding from us and running away from accountability.
If someone is to be respected in all this is Kevin Gordon, the guy doing the real work and who potentially take us out of the pit.