Spectral Medical Inc T.EDT

Alternate Symbol(s): EDTXF

Spectral Medical Inc. is a Canada-based late-stage theragnostic company advancing therapeutic options for sepsis and septic shock. The Company develops and commercializes a treatment for septic shock utilizing its Endotoxin Activity Assay (EAA) diagnostic and the Toraymyxin therapeutic (PMX). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s EAA. PMX is approved for therapeutic use in Japan and Europe and has been used safely and effectively on more than 340,000 patients to date. It has pioneered the development of biochemical markers for the clinical syndrome known as septic shock. It is continuing its legacy business of manufacturing and selling certain proprietary reagents. It develops, produces and markets recombinant proteins, antibodies and calibrators. These materials are sold for use in research and development, as well as in products manufactured by other diagnostic companies.

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Spectral Medical Inc > The 29 percent...

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Comment by RickyBobbyTOon Jun 22, 2022 10:47am

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Post# 34773833

RE:RE:RE:RE:The 29 percent...

down dip day... at the money.

it's so I'll conceived it made my toes curl. Cringe.

RickyBobbyTO wrote:

As I recall, every single line item mentioned in your post happened prior to him being CEO, except for the newest hire that brought the price up. I wonder if he will stick around... When your line items did happen, the price was in the 80s/90s. Since Seto became CEO... there have been a lot of promises.... but 29% of the voting shareholders disagree with them being fulfilled. It's a truly disgraceful report card for any executive.

Pull a random 100 AGM voting results and you may not find a single one with ~30% of shareholders against a CEO. It's a truly adversarial relationship.

I voted with the sale of my shares. I like the idea, I also liked Walker... but I can't, out of self respect, leave money here after they sold shareholders stock at 42.5 cents and issued themselves 7 million options/RSUs/PSUs at 32 cents on a down dip day (without commenting on who dipped it on low volume). No respect, not even a little bit.

Accountprince wrote: I agree with you. As they say you reap what you sow. Perhaps the BOD will pause and reflect on what's actually been achieved.

Share price is less than half from when Seto joined and that's only recently. Several share issues done at ever reduced issue prices while Baxter came on board, FDA approvals for Dialco side, Tigris started but enrollment faltered, attracted heavy hitters John Kellum and Sam Amory and hired and paying for IR that doesn't seem to be doing anything. Hard to put a finger on any achievements to support the promotion from CFO through to CEO and now BOD too. The 29 percent against Seto reflects that reality - hard to see what the 71% sees there unless their agenda is not obvious.

If he wants to establish credibility time to perform and get the share price up to at least $1.00 now before a further issue. Failure to do so in the face of so many positives will only cement his lack of credibility. And reflect badly on the BOD and their stewardship.