2023 AGM vote Looking at how today’s news was received I think we have a pretty good case for finally (FINALLY) forcing the hands of the BOD to recognize that even though this company won’t collapse like FTX, there are parallels between what valuations our pouch could leverage now, vs. how little leverage it might achieve if the company chooses to ignore that we don’t have enough money (just like FTX) to carry the science through quick enough to keep a first to the post advantage. My last post here got taken down because I obviously touched a nerve at head office, but let’s be real for a moment shall we? As much potential as this device has, there must also be a sense of when the money runs out relative to when commercialization can actually ramp up. We’re now at a place on the timeline where not selling what we’ve got, actually increases the risk that an alternative out there leap frogs ahead because more resources are being applied to that solution every day, than what we can afford with our burn rate.
Full disclosure, my position is a quarter of what it was at one time. And I kept that position because I still believe that if these guys can at least meet a few deadlines this year, then big pharma’s current squeeze becomes their FOMO moment. In the meantime, the obfuscation, the wasted money on horrible IR and PR, the handing out of options and DSU’s after a 66% drop from the stock valuation highs of a couple years ago, the soap opera stuff reported here and on other forums between Phillip and former staff…I mean, really? And again, what does Ray Matthews have on these guys? He of the let’s get Dougie Low-ball and Can-o-worms to upset every legacy retail shareholder we’ve ever had. Come on shareholders, some of us have been warning of the weaknesses of this group for a while now. Weakness 1 being never being able to integrate the science with a timeline that has any hope of maximizing shareholder value ANY time SOON. Even if they can get the price up over $1.50 in the next few weeks, none of that aligns with what all the houses are saying this thing should be trading at. That $4-6 range from all those analyst reports now must be tied to getting the different CEO we were promised (before the AGM), and then getting the enterprise ready for a sale before the end of the calendar year. Just my two cents, so I don’t want this comment to turn into the silliness that’s now migrated over to CEO.CA - I won’t be replying, just hoping that if you can vote, you do vote for anything other than the status quo.
DF