RE:RE:RE:Press Release December 23
Thanks for your view Looney. Many here have had this "what's there to lose at this point" attitude with those small meaningless sideway (or downward) movements, probably an abdication with nothing to lose anymore since our individual investments are pretty much all gone at this point.
I'm an optimist by nature, but to be realistic, as long as the same people will be behind the curtain, no one in their right mind and any basic due diligence will want anything to do with it. If you knew what you know now about those people, would you have invested any of your hard-earned savings?
The restructuring group was the best option there ever was, and a GREAT one at that! A great team of individuals with a proven track record who had the right ideas - and even investing their own dollars without any guarantee to get it back. A true change of management and renewed credibility. It's the lack thereof that's keeping it from going anywhere - not the technology. This last round of dilution was just to cover expenses, no "investment" to speak of ...and in reality, as they remain stubborn, the sideway movement and lack of progress actually keeps on sinking it deeper. So much time wasted for nothing...
At this juncture, my only "realistic" hope would be for an outright buyout. For this to happen it will take Global and Bakema to throw in the towel, but they've proven to be stupidly stubborn as can be, time and time again. While they're not getting any younger, they're still trying to gain full control of the company instead of focusing on letting it become what it should be and for this device to actually save lives ...while they would still make plenty to feed their greed for dollars.
Greed and egos of the current management is what's keeping third parties from getting involved. There are wealthy billionnaires (and "their people") looking for investment opportunities all the time, and this is a great one. To them this would be chump change to get involved at this stage ...hopefully there are wolves circling in the outskirt patiently waiting for the greedy to finally (AT LAST!) give up and do the right thing!...
In the meantime, it is indeed mind-boggling that the regulators have allowed this to happen and bend the rules given the history of the company. Perhaps even the regulators believe in the technology and are desperate to "maybe" have some miracle happen so it can happen!?...
GLTA in this new year! :)