RE:RE:RE:RE:Spectral Sale StrategyMM you are correct that nothing is adding up. A company has massive scientific achievements over a couple of years with the last two items (admittedly major ones) progressing very positively. This company has extended the time frame for use of technology agreements for PMX (Toray) and SAMI and DIMI (Infomed) and has a major pharma company on board with Baxter. They have the leading industry expert on board as the CMO. There is an investment analyst (Paradigm) with a valuation for the company well in excess of the current trading price. Everything is pointing to a once in a decade home run of biblical proportions.
The complaints seem to be centred on the CFO then promoted to COO and then promoted to CEO and now given a board seat. Under his management the share price that was thought to be set to move up to several dollars per share a couple of years ago has fallen to new lows and closed today at $0.22 per share. He authored two share offerings at $0.60 (incl warrants) per share and $0.425 (incl warrants) per share. It seems all operational (revenue for EAA and SAMI), trial (Tigris and DIMI) and financing (Nasdaq listing and sale of minor stake in Dialco) targets have not been achieved with no reasons offered that can be understood by the shareholders. Normally one would expect that such abysmal performance would result in dismissal and not promotion.
So I think it's the board that owes the shareholders a rational explanation for their actions to promote rather than dismiss. They are the ones that should have solid reasons for their actions and should put forth their reasoning for such actions. That's the role of the board.